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BUSINESS SEGMENTS (Tables) | 6 Months Ended
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Jun. 30, 2012
Segment Information |
Three-Month Period Ended June 30, 2012 |  | Bromine* |  |  | Crude Salt* |  |  | Chemical Products |  |  | Segment Total |  |  | Corporate |  |  | Total |
Net revenue (external customers) |  | $ | 17,539,429 |  |  | $ | 3,779,658 |  |  | $ | 9,995,759 |  |  | $ | 31,314,846 |  |  | $ | - |  |  | $ | 31,314,846 |
Net revenue (intersegment) |  |  | 808,596 |  |  |  | - |  |  |  | - |  |  |  | 808,596 |  |  |  | - |  |  |  | 808,596 |
Income (loss) from operations before taxes |  |  | 3,933,561 |  |  |  | 888,555 |  |  |  | 3,007,381 |  |  |  | 7,829,497 |  |  |  | (196,294 | ) |  |  | 7,633,203 |
Income taxes |  |  | 1,018,311 |  |  |  | 198,783 |  |  |  | 758,095 |  |  |  | 1,975,189 |  |  |  | - |  |  |  | 1,975,189 |
Income (loss) from operations after taxes |  |  | 2,915,250 |  |  |  | 689,772 |  |  |  | 2,249,286 |  |  |  | 5,854,308 |  |  |  | (196,294 | ) |  |  | 5,658,014 |
Total assets |  |  | 158,305,734 |  |  |  | 56,621,811 |  |  |  | 50,634,822 |  |  |  | 265,562,367 |  |  |  | 425,477 |  |  |  | 265,987,844 |
Depreciation and amortization |  |  | 3,509,790 |  |  |  | 1,442,179 |  |  |  | 655,456 |  |  |  | 5,607,425 |  |  |  | - |  |  |  | 5,607,425 |
Capital expenditures |  |  | 6567,296 |  |  |  | 1,281,991 |  |  |  | - |  |  |  | 7,849,287 |  |  |  | - |  |  |  | 7,849,287 |
Write-off / Impairment |  |  | 763,043 |  |  |  | 148,952 |  |  |  | - |  |  |  | 911,995 |  |  |  | - |  |  |  | 911,995 |
Three-Month Period Ended June 30, 2011 |  | Bromine* |  |  | Crude Salt* |  |  | Chemical Products |  |  | Segment Total |  |  | Corporate |  |  | Total |
Net revenue (external customers) |  | $ | 33,230,646 |  |  | $ | 5,994,384 |  |  | $ | 12,075,782 |  |  | $ | 51,300,812 |  |  | $ | - |  |  | $ | 51,300,812 |
Net revenue (intersegment) |  |  | 883,150 |  |  |  | - |  |  |  | - |  |  |  | 883,150 |  |  |  | - |  |  |  | 883,150 |
Income (loss) from operations before taxes |  |  | 9,540,474 |  |  |  | 1,926,628 |  |  |  | 2,029,160 |  |  |  | 13,496,262 |  |  |  | (107,653 | ) |  |  | 13,388,609 |
Income taxes |  |  | 2,466,262 |  |  |  | 379,478 |  |  |  | 506,605 |  |  |  | 3,352,345 |  |  |  | - |  |  |  | 3,352,345 |
Income (loss) from operations after taxes |  |  | 7,074,212 |  |  |  | 1,547,150 |  |  |  | 1,522,555 |  |  |  | 10,143,917 |  |  |  | (107,653 | ) |  |  | 10,036,264 |
Total assets |  |  | 146,989,573 |  |  |  | 52,795,615 |  |  |  | 42,676,361 |  |  |  | 242,461,549 |  |  |  | 3,013,131 |  |  |  | 245,474,680 |
Depreciation and amortization |  |  | 2,859,567 |  |  |  | 578,359 |  |  |  | 682,171 |  |  |  | 4,120,097 |  |  |  | - |  |  |  | 4,120,097 |
Capital expenditures |  |  | 21,371,074 |  |  |  | 15,667,471 |  |  |  | 37,664 |  |  |  | 37,076,209 |  |  |  | - |  |  |  | 37,076,209 |
Write-off / Impairment |  |  | 3,749,435 |  |  |  | 2,015,533 |  |  |  | 1,805,598 |  |  |  | 7,570,566 |  |  |  | - |  |  |  | 7,570,566 |
Six-Month Period Ended June 30, 2012 |  | Bromine* |  |  | Crude Salt* |  |  | Chemical Products |  |  | Segment Total |  |  | Corporate |  |  | Total |
Net revenue (external customers) |  | $ | 30,993,311 |  |  | $ | 6,054,582 |  |  | $ | 18,075,627 |  |  | $ | 55,123,520 |  |  | $ | - |  |  | $ | 55,123,520 |
Net revenue (intersegment) |  |  | 1,563,153 |  |  |  | - |  |  |  | - |  |  |  | 1,563,153 |  |  |  | - |  |  |  | 1,563,153 |
Income (loss) from operations before taxes |  |  | 6,401,865 |  |  |  | 1,437,005 |  |  |  | 5,250,276 |  |  |  | 13,089,146 |  |  |  | (878,844 | ) |  |  | 12,210,302 |
Income taxes |  |  | 1,681,209 |  |  |  | 302,649 |  |  |  | 1,325,801 |  |  |  | 3,309,659 |  |  |  | - |  |  |  | 3,309,659 |
Income (loss) from operations after taxes |  |  | 4,720,656 |  |  |  | 1,134,356 |  |  |  | 3,924,475 |  |  |  | 9,779,487 |  |  |  | (878,844 | ) |  |  | 8,900,643 |
Total assets |  |  | 158,305,734 |  |  |  | 56,621,811 |  |  |  | 50,634,822 |  |  |  | 265,562,367 |  |  |  | 425,477 |  |  |  | 265,987,844 |
Depreciation and amortization |  |  | 7,174,033 |  |  |  | 2,805,685 |  |  |  | 1,310,870 |  |  |  | 11,290,588 |  |  |  | - |  |  |  | 11,290,588 |
Capital expenditures |  |  | 6567,296 |  |  |  | 1,281,991 |  |  |  | - |  |  |  | 7,849,287 |  |  |  | - |  |  |  | 7,849,287 |
Write-off / Impairment |  |  | 763,043 |  |  |  | 148,952 |  |  |  | - |  |  |  | 911,995 |  |  |  | - |  |  |  | 911,995 |
Six-Month Period Ended June 30, 2011 |  | Bromine* |  |  | Crude Salt* |  |  | Chemical Products |  |  | Segment Total |  |  | Corporate |  |  | Total |
Net revenue (external customers) |  | $ | 63,379,962 |  |  | $ | 11,028,718 |  |  | $ | 22,270,664 |  |  | $ | 96,679,344 |  |  | $ | - |  |  | $ | 96,679,344 |
Net revenue (intersegment) |  |  | 1,503,866 |  |  |  | - |  |  |  | - |  |  |  | 1,503,866 |  |  |  | - |  |  |  | 1,503,866 |
Income (loss) from operations before taxes |  |  | 25,913,373 |  |  |  | 5,873,546 |  |  |  | 5,385,697 |  |  |  | 37,172,616 |  |  |  | (3,519,714 | ) |  |  | 33,652,902 |
Income taxes |  |  | 6,742,153 |  |  |  | 1,192,917 |  |  |  | 1,350,397 |  |  |  | 9,285,467 |  |  |  | - |  |  |  | 9,285,467 |
Income (loss) from operations after taxes |  |  | 19,171,220 |  |  |  | 4,680,629 |  |  |  | 4,035,300 |  |  |  | 27,887,149 |  |  |  | (3,519,714 | ) |  |  | 24,367,435 |
Total assets |  |  | 146,989,573 |  |  |  | 52,795,615 |  |  |  | 42,676,361 |  |  |  | 242,461,549 |  |  |  | 3,013,131 |  |  |  | 245,474,680 |
Depreciation and amortization |  |  | 5,014,155 |  |  |  | 1,098,678 |  |  |  | 1,355,783 |  |  |  | 7,468,616 |  |  |  | - |  |  |  | 7,468,616 |
Capital expenditures |  |  | 23,933,922 |  |  |  | 19,334,613 |  |  |  | 37,664 |  |  |  | 43,306,199 |  |  |  | - |  |  |  | 43,306,199 |
Write-off / Impairment |  |  | 3,749,435 |  |  |  | 2,015,533 |  |  |  | 1,805,598 |  |  |  | 7,570,566 |  |  |  | - |  |  |  | 7,570,566 |
* Certain common production overheads, operating and administrative expenses and asset items (mainly cash and certain office equipment) of bromine and crude salt segments in SCHC were split by reference to the average selling price and production volume of respective segment.
Reconciliations of Total Segment Operating Income to Income Before Taxes |
|  | Three-Month Period Ended June 30, |  |  | Six-Month Period Ended June 30, |
Reconciliations |  | 2012 |  |  | 2011 |  |  | 2012 |  |  | 2011 |
Total segment operating income |  | $ | 7,829,497 |  |  | $ | 13,496,262 |  |  | $ | 13,089,146 |  |  | $ | 37,172,616 |
Corporate costs |  |  | (196,294 | ) |  |  | (107,653 | ) |  |  | (878,844 | ) |  |  | (3,519,714 | )
Income from operations |  |  | 7,633,203 |  |  |  | 13,388,609 |  |  |  | 12,210,302 |  |  |  | 33,652,902 |
Other income (expense) |  |  | 30,660 |  |  |  | (13,009 | ) |  |  | 75,138 |  |  |  | 20,819 |
Income before taxes |  | $ | 7,663,863 |  |  | $ | 13,375,600 |  |  | $ | 12,285,440 |  |  | $ | 33,673,721 |
Major Customers | The following table shows the major customer(s) (10% or more) for the three-month period ended June 30, 2012.
Number |  | Customer |  | Bromine (000’s) |  |  | Crude Salt (000’s) |  |  | Chemical Products (000’s) |  |  | Total Revenue (000’s) |  |  | Percentage of Total Revenue (%) |
1 |  | Shandong Morui Chemical Company Limited |  | $ | 1,904 |  |  | $ | 727 |  |  | $ | 1,109 |  |  | $ | 3,740 |  |  |  | 11.9 | %
2 |  | Shouguang City Rongyuan Chemical Company Limited |  | $ | 2,257 |  |  | $ | 898 |  |  | $ | - |  |  | $ | 3,155 |  |  |  | 10.1 | %
TOTAL |  |  |  | $ | 4,161 |  |  | $ | 1,625 |  |  | $ | 1,109 |  |  | $ | 6,895 |  |  |  | 22.0 | %
The following table shows the major customer(s) (10% or more) for the six-month period ended June 30, 2012.
Number |  | Customer |  | Bromine (000’s) |  |  | Crude Salt (000’s) |  |  | Chemical Products (000’s) |  |  | Total Revenue (000’s) |  |  | Percentage of Total Revenue (%) |
1 |  | Shandong Morui Chemical Company Limited |  | $ | 3,634 |  |  | $ | 1,113 |  |  | $ | 2,107 |  |  | $ | 6,854 |  |  |  | 12.4 | %
2 |  | Shouguang City Rongyuan Chemical Company Limited |  | $ | 4,278 |  |  | $ | 1,346 |  |  | $ | - |  |  | $ | 5,624 |  |  |  | 10.2 | %
TOTAL |  |  |  | $ | 7,912 |  |  | $ | 2,459 |  |  | $ | 2,107 |  |  | $ | 12,478 |  |  |  | 22.6 | %
The following table shows the major customer(s) (10% or more) for the three-month period ended June 30, 2011.
Number |  | Customer |  | Bromine (000’s) |  |  | Crude Salt (000’s) |  |  | Chemical Products (000’s) |  |  | Total Revenue (000’s) |  |  | Percentage of Total Revenue (%) |
1 |  | Shandong Morui Chemical Company Limited |  | $ | 3,507 |  |  | $ | 1,121 |  |  | $ | 760 |  |  | $ | 5,388 |  |  |  | 10.5 | %
TOTAL |  |  |  | $ | 3,507 |  |  | $ | 1,121 |  |  | $ | 760 |  |  | $ | 5,388 |  |  |  | 10.5 | %
The following table shows the major customer(s) (10% or more) for the six-month period ended June 30, 2011.
Number |  | Customer |  | Bromine (000’s) |  |  | Crude Salt (000’s) |  |  | Chemical Products (000’s) |  |  | Total Revenue (000’s) |  |  | Percentage of Total Revenue (%) |
1 |  | Shandong Morui Chemical Company Limited |  | $ | 9,238 |  |  | $ | 1,963 |  |  | $ | 1,329 |  |  | $ | 12,530 |  |  |  | 13.0 | %
2 |  | Shouguang City Rongyuan Chemical Company Limited |  | $ | 7,285 |  |  | $ | 2,622 |  |  | $ | - |  |  | $ | 9,907 |  |  |  | 10.3 | %
TOTAL |  |  |  | $ | 16,523 |  |  | $ | 4,585 |  |  | $ | 1,329 |  |  | $ | 22,437 |  |  |  | 23.3 | %

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- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total profit or loss from reportable segments, to the entity's consolidated income before income taxes, extraordinary items, and discontinued operations. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6534315&loc=d3e8906-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 131 -Paragraph 32 -Subparagraph b -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. + Details
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