XML 69 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Comprehensive Income (USD $)
12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Net Sales $ 56,059,477 $ 49,542,762
Cost of Sales 43,446,618 38,636,245
Gross profit 12,612,859 10,906,517
Operating expenses:    
General and administrative 6,564,355 6,357,249
Selling 2,224,551 1,720,878
Advertising and marketing 1,733,609 1,769,477
Total operating expenses 10,522,515 9,847,604
Income from operations 2,090,344 1,058,913
Other (expense) income:    
Interest expense (1,461,855) (1,013,295)
Interest income 22,143 22,143
Foreign currency gain 27,232 24,841
Total other expense, net (1,412,480) (966,311)
Income before taxes 677,864 92,602
Income tax expense 269,836 46,272
Net Income 408,028 46,330
Less: Net income (loss) attributable to noncontrolling interest 32,519 (55,419)
Net income attributable to CTI Industries Corporation 375,509 101,749
Other Comprehensive (Loss) Income    
Foreign currency adjustment (81,919) 114,097
Comprehensive income attributable to CTI Industries Corporation $ 293,590 $ 215,846
Basic income per common share (in dollars per share) $ 0.12 $ 0.03
Diluted income per common share (in dollars per share) $ 0.11 $ 0.03
Weighted average number of shares and equivalent shares of common stock outstanding:    
Basic (in shares) 3,248,646 3,216,756
Diluted (in shares) 3,404,804 3,293,106