XML 72 R23.htm IDEA: XBRL DOCUMENT v2.4.1.9
Segment Reporting
 3 Months Ended
Mar. 31, 2015
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 offset 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 Province, China. All sales were sold to customers located in the PRC. 

 

Summarized financial information for the two reportable segments is as follows: 

 

    Three Months Ended  
    March 31, 2015  
    Orient Paper     Orient Paper     Not Attributable     Elimination     Enterprise-wide,  
    HB     Shengde     to Segments     of Inter-segment     consolidated  
                               
Revenues   $ 26,504,344     $ -     $ -     $ -     $ 26,504,344  
Gross Profit     4,986,733       -       -       -       4,986,733  
Depreciation and amortization     2,262,688       252,196       -       -       2,514,884  
Interest income     48,316       492       -       -       48,808  
Interest expense     (648,218 )     -       -       -       (648,218 )
Income tax expense     (874,254 )     68,769       -       -       (805,485 )
Net Income (Loss)     2,638,118       (231,747 )     (300,882 )     -       2,105,489  
Total Assets     198,799,547       38,556,591       30,284       -       237,386,422  

 

    Three Months Ended  
    March 31, 2014  
    Orient Paper     Orient Paper     Not Attributable     Elimination     Enterprise-wide,  
    HB     Shengde     to Segments     of Inter-segment     consolidated  
                               
Revenues   $ 24,459,708     $ 1,294,156     $ -     $ -     $ 25,753,864  
Gross Profit     4,314,871       355,965       -       -       4,670,836  
Depreciation and amortization     1,270,737       668,057       -       -       1,938,794  
Interest income     4,906       491       -       -       5,397  
Interest expense     275,292       -       -       -       275,292  
Income tax expense     870,365       88,366       -       -       958,731  
Net Income (Loss)     2,645,585       229,793       (342,084 )     -       2,533,294  

 

    Year Ended  
    December 31, 2014  
    Orient Paper     Orient Paper     Not Attributable     Elimination     Enterprise-wide,  
    HB     Shengde     to Segments     of Inter-segment     consolidated  
                                         
Total Assets   $ 200,764,663     $ 38,914,243     $ 88,679     $ -     $ 239,767,585