XML 20 R4.htm IDEA: XBRL DOCUMENT v3.21.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME      
REVENUES $ 138,577,870 $ 138,900,357 $ 136,104,867
COST OF GOODS SOLD 114,855,259 116,541,972 115,585,803
GROSS PROFIT 23,722,611 22,358,385 20,519,064
Selling expenses 380,945 357,426 327,365
General and administrative expenses 6,958,788 6,155,316 5,263,914
Total Operating Expenses 7,339,733 6,512,742 5,591,279
INCOME FROM OPERATIONS 16,382,878 15,845,643 14,927,785
Financial expenses, net (2,861,921) (2,382,405) (1,621,486)
Other income, net 75,786 297,438 208,071
INCOME BEFORE INCOME TAX 13,596,743 13,760,676 13,514,370
INCOME TAX (1,568,109) (1,533,794) (2,129,387)
NET INCOME 12,028,634 12,226,882 11,384,983
LESS: NET INCOME ATTRIBUTABLE TO NONCONTROLLING INTEREST 952,771 1,137,712 1,005,530
NET INCOME ATTRIBUTABLE TO OSSEN INNOVATION CO., LTD AND SUBSIDIARIES 11,075,863 11,089,170 10,379,453
OTHER COMPREHENSIVE INCOME (LOSS)      
Foreign currency translation gain (loss) 8,537,550 (1,744,846) (6,272,303)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS) 8,537,550 (1,744,846) (6,272,303)
COMPREHENSIVE INCOME $ 19,613,413 $ 9,344,324 $ 4,107,150
EARNINGS PER ORDINARY SHARE      
Basic and diluted $ 0.56 $ 0.56 $ 0.52
WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING      
Basic and diluted 19,791,110 19,791,110 19,791,110