XML 14 R4.htm IDEA: XBRL DOCUMENT v3.4.0.3
Condensed Consolidated Statements of Comprehensive Income - USD ($)
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Net Sales $ 15,204,994 $ 14,975,329
Cost of Sales 11,283,147 10,986,933
Gross profit 3,921,847 3,988,396
Operating expenses:    
General and administrative 1,757,351 1,687,528
Selling 991,361 735,408
Advertising and marketing 526,078 646,251
Total operating expenses 3,274,790 3,069,187
Income from operations 647,057 919,209
Other (expense) income:    
Interest expense (355,304) (368,275)
Interest income (3,156) 5,535
Change in fair value of warrants (187,664) (40,614)
Foreign currency loss (10,484) (4,012)
Total other expense, net (556,608) (407,366)
Net income before taxes 90,449 511,843
Income tax expense 6,986 173,062
Net income 83,463 338,781
Less: Net income attributable to noncontrolling interest 76,701 54,166
Net income attributable to CTI Industries Corporation 6,762 284,615
Other Comprehensive Loss    
Foreign currency adjustment (67,602) (384,142)
Comprehensive loss $ (60,840) $ (99,527)
Basic income per common share $ 0 $ 0.09
Diluted income per common share $ 0 $ 0.08
Weighted average number of shares and equivalent shares of common stock outstanding:    
Basic 3,339,240 3,301,116
Diluted 3,479,069 3,448,689