Segment Information

12 Months Ended

Dec. 31, 2015

Segment Information [Text Block]

Note 15 – Segment Information

The Company has five segments: BOPP tobacco films, water-based latex, coated film, color printed packaging and advanced film. The water-based latex is one of the raw materials used in coated film to make the packaging more environmental friendly and the barrier property better.

The following tables summarize the Company’s segment information for the years ended December 31, 2015 and 2014:

		Years Ended December 31,
		2015			2014
Revenues from unrelated entities
Tobacco film	$	40,116,262		$	58,090,157
Water-based latex		463,833			632,053
Coated film		26,698,220			31,100,464
Color printing		3,945,283			4,625,718
Advanced film		5,107,921			6,669,429
	$	76,331,519		$	101,117,821
Intersegment revenues
Tobacco film	$	2,581,689		$	1,184,944
Water-based latex		42,827			43,387
Coated film		1,718,168			679,784
Color printing		253,899			101,108
Advanced film		328,721			145,778
	$	4,925,304		$	2,155,001
Total revenues
Tobacco film	$	42,697,951		$	59,275,101
Water-based latex		506,660			675,440
Coated film		28,416,388			31,780,248
Color printing		4,199,182			4,726,826
Advanced film		5,436,642			6,815,207
Less Intersegment revenues		(4,925,304	)		(2,155,001	)
	$	76,331,519		$	101,117,821
Income (loss) from operations
Tobacco film	$	3,576,842		$	5,135,083
Water-based latex		147,209			201,360
Coated film		(1,537,022	)		191,081
Color printing		(885,096	)		(695,747	)
Advanced film		(218,401	)		(213,317	)
Holding Company		(197,995	)		(165,984	)
	$	885,537		$	4,452,476
Interest income
Tobacco film	$	1,188,682		$	1,181,676
Water-based latex		13,744			13,777
Coated film		791,094			677,909
Color printing		116,903			100,829
Advanced film		151,353			145,376
Holding Company		72,500			72,500
	$	2,334,276		$	2,192,067
Interest expense
Tobacco film	$	2,286,746		$	2,193,336
Water-based latex		23,787			22,815
Coated film		907,049			869,997
Color printing		183,522			176,026
Advanced film		383,967			368,283
Holding Company		(2,819	)		(2,283	)
	$	3,782,252		$	3,628,174
Income tax expense
Tobacco film	$	482,481		$	545,455
Water-based latex		-			-
Coated film		403,088			392,818
Color printing		-			-
Advanced film		77,119			84,239
Holding Company		-			-
	$	962,688		$	1,022,512
Net income (loss)
Tobacco film	$	2,453,278		$	3,235,489
Water-based latex		137,166			189,526
Coated film		(1,674,283	)		1,668,979
Color printing		(951,716	)		(791,407	)
Advanced film		(455,092	)		(78,098	)
Holding Company		(195,176	)		(163,701	)
	$	(685,823	)	$	4,060,788
Provision for depreciation
Tobacco film	$	1,907,807		$	2,462,726
Water-based latex		36,301			40,097
Coated film		756,741			976,852
Color printing		153,111			197,646
Advanced film		320,340			413,516
Holding Company		-			-
	$	3,174,300		$	4,090,837

		As of		As of
		December 31,		December 31,
Total Assets		2015		2014
Tobacco film	$	48,472,654	$	71,293,886
Water-based latex		657,568		657,568
Coated film		19,226,916		28,279,069
Color printing		3,890,165		5,721,679
Advanced film		8,139,035		11,970,944
Holding Company		11,105,905		11,222,719
	$	91,492,243	$	129,145,865