Quarterly report pursuant to sections 13 or 15(d)

RESTATEMENT OF FINANCIAL STATEMENTS (Tables)

RESTATEMENT OF FINANCIAL STATEMENTS (Tables)

3 Months Ended

Mar. 31, 2013

RESTATEMENT OF FINANCIAL STATEMENTS [Abstract]

The effects of the restatement are as follows:

	March 31, 2013
	(unaudited)
	As Reported	As Restated
	(thousands of dollars)
Consolidated Balance Sheets
Investment in AMAK	$ 46,769	$ 48,358
Total Assets	129,199	130,788
Retained Earnings	38,548	40,137
Total Arabian American Development Company Stockholders' Equity	85,462	87,051
Total Equity	85,751	87,340
Total Liabilities and Equity	129,199	130,788

Consolidated Statements of Income
Equity in earnings (loss) of AMAK	$ 298	$ 2,964
Total other income (expense)	86	2,752
Income before income taxes	3,131	5,797
Net income	2,120	4,786
Net income attributable to Arabian American Development Company	2,120	4,786

Basic earnings per common share (dollars)	$ 0.09	$ 0.20
Diluted earnings per common share (dollars)	$ 0.09	$ 0.19


Consolidated Statements of Comprehensive Income
Net Income	$ 2,120	$ 4,786
Comprehensive Income	2,175	4,841

Consolidated Statement of Stockholders' Equity
Net Income	$ 2,120	$ 4,786
Retained Earnings	38,548	40,137
Total	85,462	87,051
Total Equity	85,751	87,340

Consolidated Statements of Cash Flows
Operating Activities
Net income	$ 2,120	$ 4,786
Equity in (earnings) loss of AMAK	(298)	(2,964)

- Definition

Tabular disclosure of the nature and effects of a restatement to correct an error in the reported results of operations of prior periods. When prior period adjustments are recorded, the resulting effects (both gross and net of applicable income tax) on the net income of prior periods are disclosed in the annual report for the year in which the adjustments are made, and amended filings of previously issued reports are typically issued.

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