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Note 21 - Summarized Financial Information Of Equity Investees

12 Months Ended

Dec. 31, 2011

SUMMARIZED FINANCIAL INFORMATION OF EQUITY INVESTEES

SUMMARIZED FINANCIAL INFORMATION OF EQUITY INVESTEES

21.    SUMMARIZED FINANCIAL INFORMATION OF EQUITY INVESTEES

            The following tables present summarized financial information of the Company’s principal equity investees, Lox Pac, SPHC, Shandong Huayu and SPRC.

		As of December 31,
		2010		2011
		Unaudited		Unaudited
Current assets		$ 51,305		$ 54,968
Non-current assets		19,348		17,961
Current liabilities		(40,162)		(44,870)
Non-current liabilities		(2,023)		(1,156)
Total shareholders’ equity		$ 28,468		$ 26,903

		Year ended December 31,
		2009		2010		2011
		Unaudited		Unaudited		Unaudited
Net sales		$28,090		$44,866		$55,727
Gross Profit		6,582		10,457		13,543
Net income (loss)		(629)		(1,347)		(1,360)

X

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 50

-Paragraph 3

-URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 35

-Paragraph 32

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Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher AICPA

-Name Accounting Principles Board Opinion (APB)

-Number 18

-Paragraph 20

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.12)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682



Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 323

-SubTopic 10

-Section 35

-Paragraph 35

-URI http://asc.fasb.org/extlink&oid=6903645&loc=d3e32847-111569

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