Financial Statements for China Armco Metals Inc

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China Armco Metals Inc financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2012-09-30	3 months ending 2012-06-30	3 months ending 2012-03-31	3 months ending 2011-12-31	3 months ending 2011-09-30
Revenue	15.36	4.29	49.28	9.46	16.10
Other Revenue, Total	-	-	-	-	-
Total Revenue	15.36	4.29	49.28	9.46	16.10
Cost of Revenue, Total	13.44	3.57	47.82	8.94	15.29
Gross Profit	1.92	0.72	1.46	0.52	0.81
Selling/General/Admin. Expenses, Total	0.95	1.37	1.19	0.67	1.21
Research & Development	-	-	-	-	-
Depreciation/Amortization	-	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-0.02	0.00	0.39	1.98	0.00
Other Operating Expenses, Total	0.43	0.56	0.50	0.52	0.53
Total Operating Expense	14.80	5.50	49.90	12.11	17.02
Operating Income	0.56	-1.21	-0.61	-2.65	-0.92
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-0.08	-0.03	-0.14	0.01	0.01
Income Before Tax	0.13	-1.64	-1.57	-1.57	-1.05
Income After Tax	0.13	-1.71	-1.66	-1.51	-1.10
Minority Interest	-	-	-	-	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	0.13	-1.71	-1.66	-1.51	-1.10
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	0.13	-1.71	-1.66	-1.51	-1.10
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	0.13	-1.71	-1.66	-1.51	-1.10
Income Available to Common Incl. Extra Items	0.13	-1.71	-1.66	-1.51	-1.10
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	18.37	18.46	16.67	15.42	15.37
Diluted EPS Excluding Extraordinary Items	0.01	-0.09	-0.10	-0.10	-0.07
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	0.01	-0.09	-0.08	-0.01	-0.07

In Millions of USD (except for per share items)	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31	12 months ending 2008-12-31
Revenue	106.22	68.79	86.94	55.36
Other Revenue, Total	-	-	-	-
Total Revenue	106.22	68.79	86.94	55.36
Cost of Revenue, Total	100.36	66.33	78.00	51.23
Gross Profit	5.85	2.46	8.94	4.13
Selling/General/Admin. Expenses, Total	4.82	4.82	1.71	1.25
Research & Development	-	-	-	-
Depreciation/Amortization	-	-	-	-
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	1.98	-	-	-
Other Operating Expenses, Total	1.95	0.00	-	-
Total Operating Expense	109.11	71.15	79.71	52.48
Operating Income	-2.89	-2.36	7.23	2.88
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-0.44	0.63	-0.22	1.34
Income Before Tax	-3.11	-2.07	6.34	4.06
Income After Tax	-3.35	-2.23	5.12	3.27
Minority Interest	-	-	-	-
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	-3.35	-2.23	5.12	3.27
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	-3.35	-2.23	5.12	3.33
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	-3.35	-2.23	5.12	3.27
Income Available to Common Incl. Extra Items	-3.35	-2.23	5.12	3.33
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	0.00	-	-
Diluted Weighted Average Shares	15.37	13.80	10.10	7.51
Diluted EPS Excluding Extraordinary Items	-0.22	-0.16	0.51	0.44
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	-0.13	-0.16	0.51	0.44

In Millions of USD (except for per share items)	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31	As of 2011-12-31	As of 2011-09-30
Cash & Equivalents	-	-	-	-	-
Short Term Investments	7.09	11.09	10.73	9.99	6.96
Cash and Short Term Investments	7.68	11.97	11.72	11.04	8.11
Accounts Receivable - Trade, Net	2.74	0.79	28.24	0.76	0.55
Receivables - Other	-	-	-	-	-
Total Receivables, Net	2.74	0.79	28.40	0.76	0.61
Total Inventory	17.36	13.64	11.21	33.34	14.17
Prepaid Expenses	1.08	1.65	1.86	2.21	2.04
Other Current Assets, Total	2.73	3.92	6.24	3.08	17.48
Total Current Assets	31.59	31.97	59.43	50.43	42.41
Property/Plant/Equipment, Total - Gross	43.18	43.80	43.72	42.17	37.17
Accumulated Depreciation, Total	-5.57	-4.96	-4.24	-3.51	-2.81
Goodwill, Net	-	-	-	-	-
Intangibles, Net	6.21	6.23	6.24	6.21	2.22
Long Term Investments	-	-	-	-	-
Other Long Term Assets, Total	-	-	-	-	-
Total Assets	75.42	77.04	105.16	95.30	78.99
Accounts Payable	2.15	0.98	3.33	18.54	2.40
Accrued Expenses	2.36	1.77	3.72	2.71	5.54
Notes Payable/Short Term Debt	23.90	24.07	43.91	14.89	11.48
Current Port. of LT Debt/Capital Leases	2.41	6.31	6.23	6.13	4.67
Other Current liabilities, Total	2.19	1.40	3.31	6.56	12.07
Total Current Liabilities	33.02	34.54	60.51	48.83	36.16
Long Term Debt	-	-	-	0.00	0.00
Capital Lease Obligations	2.31	2.94	3.56	4.13	1.02
Total Long Term Debt	2.31	2.94	3.56	4.13	1.02
Total Debt	28.62	33.32	53.70	25.14	17.16
Deferred Income Tax	-	-	-	-	-
Minority Interest	-	-	-	-	-
Other Liabilities, Total	0.00	0.00	0.00	0.00	0.00
Total Liabilities	35.33	37.48	64.07	52.96	37.17
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	0.00	0.00	0.00	0.00	0.00
Common Stock, Total	0.02	0.02	0.02	0.02	0.02
Additional Paid-In Capital	30.53	30.07	29.90	29.73	29.57
Retained Earnings (Accumulated Deficit)	6.14	6.00	7.71	9.37	10.88
Treasury Stock - Common	-	-	-	-	-
Other Equity, Total	3.40	3.48	3.46	3.22	2.95
Total Equity	40.09	39.56	41.08	42.34	41.82
Total Liabilities & Shareholders' Equity	75.42	77.04	105.16	95.30	78.99
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	18.37	17.18	17.07	15.42	15.05

In Millions of USD (except for per share items)	As of 2011-12-31	As of 2010-12-31	As of 2009-12-31	As of 2008-12-31
Cash & Equivalents	-	-	-	-
Short Term Investments	9.99	15.53	0.78	0.00
Cash and Short Term Investments	11.04	18.63	1.52	3.25
Accounts Receivable - Trade, Net	0.76	19.12	28.39	16.72
Receivables - Other	-	-	-	-
Total Receivables, Net	0.76	19.12	28.39	16.72
Total Inventory	33.34	10.44	0.50	0.20
Prepaid Expenses	2.21	4.73	3.51	0.38
Other Current Assets, Total	3.08	6.51	3.90	3.68
Total Current Assets	50.43	59.43	37.83	24.23
Property/Plant/Equipment, Total - Gross	42.17	34.63	19.78	2.44
Accumulated Depreciation, Total	-3.51	-0.76	-0.14	-0.06
Goodwill, Net	-	-	-	-
Intangibles, Net	6.21	2.18	2.16	2.21
Long Term Investments	-	-	-	-
Other Long Term Assets, Total	-	-	-	-
Total Assets	95.30	95.48	59.63	28.82
Accounts Payable	18.54	3.44	6.84	6.70
Accrued Expenses	2.71	6.32	0.65	0.03
Notes Payable/Short Term Debt	14.89	28.94	17.02	2.91
Current Port. of LT Debt/Capital Leases	6.13	5.27	2.19	0.00
Other Current liabilities, Total	6.56	3.24	5.79	3.89
Total Current Liabilities	48.83	47.19	32.50	13.53
Long Term Debt	0.00	3.78	6.58	0.00
Capital Lease Obligations	4.13	1.54	0.00	-
Total Long Term Debt	4.13	5.32	6.58	0.00
Total Debt	25.14	39.53	25.80	2.91
Deferred Income Tax	-	-	-	-
Minority Interest	-	-	-	-
Other Liabilities, Total	0.00	0.14	3.42	0.00
Total Liabilities	52.96	52.65	42.50	13.53
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	0.02	0.01	0.01	0.01
Additional Paid-In Capital	29.73	28.97	2.56	6.94
Retained Earnings (Accumulated Deficit)	9.37	12.71	14.94	7.97
Treasury Stock - Common	-	-	-	-
Other Equity, Total	3.22	1.64	-0.38	0.37
Total Equity	42.34	42.83	17.13	15.29
Total Liabilities & Shareholders' Equity	95.30	95.48	59.63	28.82
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	15.42	14.84	10.31	10.09

In Millions of USD (except for per share items)	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31	12 months ending 2011-12-31
Net Income/Starting Line	-3.23	-3.37	-1.66	-3.35
Depreciation/Depletion	2.04	1.42	0.70	2.73
Amortization	0.04	0.02	0.01	0.05
Deferred Taxes	-	-	-	-
Non-Cash Items	1.33	0.96	0.58	2.20
Changes in Working Capital	-5.36	-3.99	-25.69	12.72
Cash from Operating Activities	-5.19	-4.95	-26.05	14.35
Capital Expenditures	-0.81	-1.34	-1.30	-5.63
Other Investing Cash Flow Items, Total	2.51	-1.50	-1.12	4.77
Cash from Investing Activities	1.70	-2.85	-2.42	-0.86
Financing Cash Flow Items	-1.89	-0.31	-0.51	5.71
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	-	-	-	0.00
Issuance (Retirement) of Debt, Net	4.94	7.96	28.93	-21.26
Cash from Financing Activities	3.05	7.65	28.42	-15.56
Foreign Exchange Effects	-0.02	-0.02	-0.01	0.01
Net Change in Cash	-0.45	-0.16	-0.06	-2.06
Cash Interest Paid, Supplemental	1.71	1.26	0.79	1.79
Cash Taxes Paid, Supplemental	0.00	0.00	0.00	1.22

In Millions of USD (except for per share items)	12 months ending 2011-12-31	12 months ending 2010-12-31	12 months ending 2009-12-31	12 months ending 2008-12-31
Net Income/Starting Line	-3.35	-2.23	5.12	3.33
Depreciation/Depletion	2.73	0.62	0.08	0.03
Amortization	0.05	0.05	0.05	0.05
Deferred Taxes	-	-	-	-
Non-Cash Items	2.20	1.01	0.18	-0.02
Changes in Working Capital	12.72	-5.17	-12.35	-7.20
Cash from Operating Activities	14.35	-5.72	-6.93	-3.80
Capital Expenditures	-5.63	-14.18	-17.35	-2.28
Other Investing Cash Flow Items, Total	4.77	-15.24	-0.78	0.60
Cash from Investing Activities	-0.86	-29.42	-18.12	-1.67
Financing Cash Flow Items	5.71	10.22	-0.31	-1.05
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	0.00	15.61	0.03	6.62
Issuance (Retirement) of Debt, Net	-21.26	11.00	22.88	2.91
Cash from Financing Activities	-15.56	36.84	22.59	8.48
Foreign Exchange Effects	0.01	0.65	-0.05	0.01
Net Change in Cash	-2.06	2.35	-2.51	3.02
Cash Interest Paid, Supplemental	1.79	0.48	0.53	0.16
Cash Taxes Paid, Supplemental	1.22	1.49	0.00	0.00