XML 117 R4.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Statements of Operations and Comprehensive Income (USD $)
12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2012
Income Statement [Abstract]      
Net sales $ 62,692,901 $ 66,827,070 $ 55,212,779
Cost of goods sold (57,999,265) (56,854,674) (48,384,573)
Gross profit 4,693,636 9,972,396 6,828,206
Selling, general and administrative expenses (13,148,067) (12,383,973) (7,026,786)
Other operating income, net       28,589
Operating profit (loss) (8,454,431) (2,411,577) (169,991)
Interest income, net 685,138 1,504,166 95,477
Other income (expenses), net 2,396,789 583,315 1,124,478
Income (Loss) from continuing operations before income taxes (5,372,504) (324,096) 1,049,964
Income tax (expense) benefit 255,927 841,900 (1,228,625)
Income (Loss) from continuing operations (5,116,577) 517,804 (178,661)
Income (Loss) from discontinued operations, net of tax (5,547,024) (2,589,063) 1,595,997
Net income (loss) (10,663,601) (2,071,259) 1,417,336
Other comprehensive income      
Foreign currency translation adjustments 153,453 989,852 2,277,759
Release of unrealized loss on available-for-sale investments, net of income tax of nil, upon disposal (13,980)    
Unrealized gain on available-for-sale investments, net of income tax of nil 5,300 22,495 23,957
Total comprehensive income (loss) (10,518,828) (1,058,912) 3,719,052
Less: Comprehensive income (loss) attributable to non-controlling interests      
Net income (loss) 108,044 107,958 (6,659)
Foreign currency translation adjustments 176 (52) 454
Total comprehensive income (loss) attributable to shareholders of Global-Tech Advanced Innovations Inc. (10,410,608) (951,006) 3,712,847
Income (Loss) from continuing operations (5,116,577) 517,804 (178,661)
Net income (loss) attributable to non-controlling interests 108,044 107,958 (6,659)
Income (Loss) from continuing operations attributable to shareholders of Global-Tech Advanced Innovations Inc. (5,008,533) 625,762 (185,320)
Income (Loss) from continuing operations attributable to shareholders of Global-Tech Advanced Innovations Inc. (5,008,533) 625,762 (185,320)
Income (Loss) from discontinued operations (5,547,024) (2,589,063) 1,595,997
Net income (loss) attributable to shareholders of Global-Tech Advanced Innovations Inc. (10,555,557) (1,963,301) 1,410,677
Basic and diluted earnings (loss) from continuing operations per share of common stock $ (1.65) $ 0.21 $ (0.06)
Basic and diluted earnings (loss) per share of common stock $ (3.47) $ (0.65) $ 0.46
Basic and diluted weighted average number of shares of common stock 3,041,625 3,040,310 3,039,727
Rental expense paid to related parties (included in selling, general and administrative expenses) $ 372,457 $ 403,907 $ 508,575