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Segment Reporting
 9 Months Ended
Sep. 30, 2013
Segment Reporting [Abstract]  
Segment Reporting

(18) Segment Reporting

 

Since March 10, 2010, Orient Paper Shengde started its operations and thereafter the Company manages its operations through two business operating segments: Orient Paper HB, which produces printing paper and corrugating medium paper, and Orient Paper Shengde, which produces digital photo paper. They are managed separately because each business requires different technology and marketing strategies.

 

The Company evaluates performance of its operating segments based on net income.  Administrative functions such as finance, treasury, and information systems are centralized.  However, where applicable, portions of the administrative function expenses are allocated between the operating segments based on gross revenue generated.  The operating segments do share facilities in Xushui County, Baoding City, Hebei, China.  All sales were sold to customers located in the PRC.

  

Summarized financial information for the two reportable segments for the three months and nine months ended September 30, 2013 and 2012 is as follows:

 

    Three Months Ended 
September 30, 2013		  
    Orient Paper 
HB		     Orient Paper 
Shengde		     Not Attributable 
to Segments		     Elimination 
of Inter-segment		     Enterprise-wide, 
Consolidated		  
                               
Revenues   $ 36,097,505     $ 1,588,609     $ -     $ -     $ 37,686,114  
Gross Profit     8,029,435       406,379       -       -       8,435,814  
Depreciation and amortization     1,364,219       695,051       -       -       2,059,270  
Interest income     22,871       1,265       23       -       24,159  
Interest expense     242,740       -       1,645       -       244,385  
Income tax expense     1,879,452       99,651       -       -       1,979,103  
Net Income (Loss)     5,649,511       270,450       (385,117 )     -       5,534,844  

 

    Three Months Ended 
September 30, 2012		  
    Orient Paper 
HB		     Orient Paper 
Shengde		     Not Attributable 
to Segments		     Elimination 
of Inter-segment		     Enterprise-wide, 
Consolidated		  
                               
Revenues   $ 35,795,860     $ 1,855,494     $ -     $ -     $ 37,651,354  
Gross Profit     6,359,616       460,437       -       -       6,820,053  
Depreciation and amortization     1,495,447       676,404       -       -       2,171,851  
Interest income     6,434       557       23       -       7,014  
Interest expense     216,065       -       3,198       -       219,263  
Income tax expense     1,461,159       108,939       -       -       1,570,098  
Net Income (Loss)     4,385,536       301,474       (326,937 )     18,998       4,379,071  

 

    Nine Months Ended 
September 30, 2013		  
    Orient Paper 
HB		     Orient Paper 
Shengde		     Not Attributable 
to Segments		     Elimination 
Of Inter-segment		     Enterprise-wide, 
Consolidated		  
Revenues   $ 86,982,167     $ 3,489,115     $ -     $ -     $ 90,471,282  
Gross Profit     15,536,788       627,658       -       -       16,164,446  
Depreciation and amortization     3,914,115       2,066,605       -       -       5,980,720  
Interest income     76,599       2,300       49       -       78,948  
Interest expense     719,593       -       3,510       -       723,103  
Income tax expense     3,397,122       153,771       -       -       3,550,893  
Net Income (Loss)     10,247,650       371,382       (1,124,997 )     -       9,494,035  
Total Assets     157,419,273       43,411,503       176,665       -       201,007,441  

 

    Nine Months Ended 
September 30, 2012		  
    Orient Paper HB     Orient Paper 
Shengde		     Not Attributable 
to Segments		     Elimination 
of Inter-segment		     Enterprise-wide, 
Consolidated		  
                               
Revenues   $ 102,277,317     $ 5,304,708     $ -     $ -     $ 107,582,025  
Gross Profit     19,013,163       1,345,726       -       -       20,358,889  
Depreciation and amortization     5,072,530       1,150,070       -       -       6,222,600  
Interest income     13,898       3,748       78       -       17,724  
Interest expense     641,700       -       3,198       -       644,898  
Income tax expense     4,356,289       314,437       -       -       4,670,726  
Net Income (Loss)     12,747,873       914,059       (1,001,459 )     11,079       12,671,552  
                                         
    Year Ended 
December 31, 2012		  
    Orient Paper HB     Orient Paper 
Shengde		     Not Attributable 
to Segments		     Elimination 
of Inter-segment		     Enterprise-wide, 
Consolidated		  
                               
Total Assets   $ 119,707,195     $ 43,076,428     $ 62,701     $ -     $ 162,846,324