10-Q Filing

FUSHI COPPERWELD, INC. CIK: 710846 Q3 2012

Filing Information

Form Type	10-Q
Accession Number	`0001144204-12-060888`
Period End Date	20120930
Filing Date	20121109
Fiscal Year	2012
Fiscal Period	Q3
XBRL Instance	fsin-20120930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 68 Cash Flow Statement 34 Comprehensive Income 4

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$123.00M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	38.40M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$217.65M	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$200.45M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	38.24M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$163.62M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	38.24M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	38.40M	shares	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$63.98M	USD	Point-in-time
Accounts receivable, net of allowance for doubtful accounts	`AccountsReceivableNetCurrent`	$69.96M	USD	Point-in-time
Inventories	`InventoryNet`	$10.70M	USD	Point-in-time
Inventories	`InventoryNet`	$20.33M	USD	Point-in-time
Advances to suppliers	`AdvancesOnInventoryPurchases`	$6.43M	USD	Point-in-time
Advances to suppliers	`AdvancesOnInventoryPurchases`	$6.79M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$1.33M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$2.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$316.49M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$283.25M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$107.92M	USD	Point-in-time
Property, plant and equipment, net	`PropertyPlantAndEquipmentNet`	$117.41M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$301.91K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$431.44K	USD	Point-in-time
Land use rights	`LandRights`	$13.04M	USD	Point-in-time
Land use rights	`LandRights`	$13.32M	USD	Point-in-time
Deposits for land use rights	`DepositsAssetsNoncurrent`	$10.11M	USD	Point-in-time
Deposits for land use rights	`DepositsAssetsNoncurrent`	$10.09M	USD	Point-in-time
Goodwill	`Goodwill`	$1.81M	USD	Point-in-time
Goodwill	`Goodwill`	$1.81M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$448.62K	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$491.38K	USD	Point-in-time
Total assets	`Assets`	$426.80M	USD	Point-in-time
Total assets	`Assets`	$450.13M	USD	Point-in-time
Short-term bank loan	`ShortTermBankLoansAndNotesPayable`	-	USD	Point-in-time
Short-term bank loan	`ShortTermBankLoansAndNotesPayable`	$2.83M	USD	Point-in-time
Current portion of long-term loan	`LongTermDebtCurrent`	$650.00K	USD	Point-in-time
Current portion of long-term loan	`LongTermDebtCurrent`	$650.00K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.74M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$3.80M	USD	Point-in-time
Amounts due to a related party	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Amounts due to a related party	`DueToRelatedPartiesCurrent`	$2.00M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$15.34M	USD	Point-in-time
Accrued expenses and other current liabilities	`AccruedExpensesAndOtherCurrentLiabilities`	$15.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$24.56M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$22.33M	USD	Point-in-time
Long-term loans	`LongTermLoansFromBank`	$7.12M	USD	Point-in-time
Long-term loans	`LongTermLoansFromBank`	$7.63M	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$672.94K	USD	Point-in-time
Deferred income tax liabilities	`DeferredTaxLiabilitiesNoncurrent`	$633.95K	USD	Point-in-time
Total liabilities	`Liabilities`	$30.64M	USD	Point-in-time
Total liabilities	`Liabilities`	$32.32M	USD	Point-in-time
Common stock, $0.006 par value, 100,000,000 shares authorized; 38,402,560 and 38,240,438 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively	`CommonStockValue`	$230.42K	USD	Point-in-time
Common stock, $0.006 par value, 100,000,000 shares authorized; 38,402,560 and 38,240,438 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively	`CommonStockValue`	$229.44K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$170.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$169.34M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$172.51M	USD	Point-in-time
Retained earnings	`RetainedEarningsAccumulatedDeficit`	$192.46M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$54.60M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$54.09M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$396.17M	USD	Point-in-time
Total shareholders' equity	`StockholdersEquity`	$417.81M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Total liabilities and shareholders? equity	`LiabilitiesAndStockholdersEquity`	$450.13M	USD	Point-in-time
Total liabilities and shareholders? equity	`LiabilitiesAndStockholdersEquity`	$426.80M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	$219.16M	USD	3 Qtrs
Revenues	`Revenues`	$74.28M	USD	1 Quarter
Revenues	`Revenues`	$212.06M	USD	3 Qtrs
Revenues	`Revenues`	$72.61M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$53.66M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$161.05M	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	$54.35M	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	$156.91M	USD	3 Qtrs
Gross profit	`GrossProfit`	$19.93M	USD	1 Quarter
Gross profit	`GrossProfit`	$58.11M	USD	3 Qtrs
Gross profit	`GrossProfit`	$55.14M	USD	3 Qtrs
Gross profit	`GrossProfit`	$18.95M	USD	1 Quarter
Selling expenses	`SellingExpense`	$1.84M	USD	1 Quarter
Selling expenses	`SellingExpense`	$1.13M	USD	1 Quarter
Selling expenses	`SellingExpense`	$3.52M	USD	3 Qtrs
Selling expenses	`SellingExpense`	$5.27M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$15.04M	USD	3 Qtrs
General and administrative expenses	`GeneralAndAdministrativeExpense`	$5.86M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$5.06M	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$19.45M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$24.72M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$7.69M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.19M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$18.55M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$11.26M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$13.74M	USD	1 Quarter
Income from operations	`OperatingIncomeLoss`	$39.56M	USD	3 Qtrs
Income from operations	`OperatingIncomeLoss`	$30.42M	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$663.78K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$237.56K	USD	1 Quarter
Interest income	`InvestmentIncomeInterest`	$710.97K	USD	3 Qtrs
Interest income	`InvestmentIncomeInterest`	$222.85K	USD	1 Quarter
Interest expense	`InterestExpense`	$116.38K	USD	1 Quarter
Interest expense	`InterestExpense`	$70.69K	USD	1 Quarter
Interest expense	`InterestExpense`	$340.28K	USD	3 Qtrs
Interest expense	`InterestExpense`	$309.18K	USD	3 Qtrs
Foreign currency exchange gain (losses), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-1.68M	USD	3 Qtrs
Foreign currency exchange gain (losses), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$-757.41K	USD	1 Quarter
Foreign currency exchange gain (losses), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$62.45K	USD	1 Quarter
Foreign currency exchange gain (losses), net	`ForeignCurrencyTransactionGainLossBeforeTax`	$82.12K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-1.35M	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$229.32K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$483.90K	USD	3 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-650.93K	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$13.09M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$11.48M	USD	1 Quarter
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$38.20M	USD	3 Qtrs
Income before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$30.91M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$3.78M	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$11.79M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$10.96M	USD	3 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$4.14M	USD	1 Quarter
Net income	`NetIncomeLoss`	$19.95M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$26.41M	USD	3 Qtrs
Net income	`NetIncomeLoss`	$7.70M	USD	1 Quarter
Net income	`NetIncomeLoss`	$8.95M	USD	1 Quarter
Foreign currency translation adjustment, net of nil income taxes	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$12.85M	USD	3 Qtrs
Foreign currency translation adjustment, net of nil income taxes	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$5.32M	USD	1 Quarter
Foreign currency translation adjustment, net of nil income taxes	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$501.68K	USD	3 Qtrs
Foreign currency translation adjustment, net of nil income taxes	`OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax`	$4.24M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$39.26M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$11.94M	USD	1 Quarter
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$20.45M	USD	3 Qtrs
Comprehensive income	`ComprehensiveIncomeNetOfTax`	$14.27M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.52	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.69	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.23	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$0.20	USD	1 Quarter

Cash Flow Statement 34 line items

Line Item	Tag	Value	Unit	Period
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$16.29M	USD	3 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$40.68M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.16M	USD	3 Qtrs
Purchases of property, plant and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$423.62K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.16M	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-423.62K	USD	3 Qtrs
Proceeds from bank loans	`ProceedsFromBankDebt`	-	USD	3 Qtrs
Proceeds from bank loans	`ProceedsFromBankDebt`	$15.77M	USD	3 Qtrs
Payment for acquisition of Jinchuan	`ProceedsFromPaymentsForOtherFinancingActivities`	-	USD	3 Qtrs
Payment for acquisition of Jinchuan	`ProceedsFromPaymentsForOtherFinancingActivities`	$-4.82M	USD	3 Qtrs
Repayment of interest-free advance provided by Mr. Li Fu	`ProceedsFromRepaymentsOfRelatedPartyDebt`	-	USD	3 Qtrs
Repayment of interest-free advance provided by Mr. Li Fu	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-2.00M	USD	3 Qtrs
Repayment of bank loans	`RepaymentsOfBankDebt`	$487.50K	USD	3 Qtrs
Repayment of bank loans	`RepaymentsOfBankDebt`	$13.44M	USD	3 Qtrs
Proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOrSaleOfEquity`	$628.50K	USD	3 Qtrs
Proceeds from issuance of common stock and warrants	`ProceedsFromIssuanceOrSaleOfEquity`	$573.21K	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-4.68M	USD	3 Qtrs
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$906.11K	USD	3 Qtrs
Effect of foreign currency exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$5.79M	USD	3 Qtrs
Effect of foreign currency exchange rate changes on cash	`EffectOfExchangeRateOnCashAndCashEquivalents`	$428.22K	USD	3 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$40.62M	USD	3 Qtrs
Net increase in cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$17.20M	USD	3 Qtrs
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$123.00M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$217.65M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$200.45M	USD	Point-in-time
Cash at beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$163.62M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$123.00M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$217.65M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$200.45M	USD	Point-in-time
Cash at end of period	`CashAndCashEquivalentsAtCarryingValue`	$163.62M	USD	Point-in-time
Interest paid	`InterestPaid`	$340.28K	USD	3 Qtrs
Interest paid	`InterestPaid`	$309.18K	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$7.67M	USD	3 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$15.26M	USD	3 Qtrs

Comprehensive Income 4 line items

Line Item	Tag	Value	Unit	Period
Foreign currency translation adjustment, income taxes	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	3 Qtrs
Foreign currency translation adjustment, income taxes	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	3 Qtrs
Foreign currency translation adjustment, income taxes	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter
Foreign currency translation adjustment, income taxes	`OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax`	-	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.