Annual report pursuant to section 13 and 15(d)

CONSOLIDATED STATEMENTS OF INCOME

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CONSOLIDATED STATEMENTS OF INCOME (USD $)
 12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Revenues      
Petrochemical product sales $ 194,619,696 $ 133,579,088 $ 109,178,541
Processing 4,896,828 4,677,470 3,783,457
Transloading sales 0 853,636 4,624,681
Total Revenues 199,516,524 139,110,194 117,586,679
Operating costs and expenses      
Cost of petrochemical product sales and Processing (including depreciation of $2,744,256, $2,271,408, and $2,246,309, respectively) 173,600,205 121,894,912 95,688,819
Gross Profit 25,916,319 17,215,282 21,897,860
General and Administrative Expenses      
General and administrative 11,777,058 10,930,141 9,144,710
Depreciation 475,526 433,372 443,538
Total General and Administrative Expenses 12,252,584 11,363,513 9,588,248
Operating income 13,663,735 5,851,769 12,309,612
Other income (expense)      
Interest income 3,576 16,184 63,669
Interest expense (1,113,292) (1,132,968) (1,327,530)
Equity in loss from AMAK (Note 8) 0 (262,500) 0
Miscellaneous income (expense) 3,203 (84,015) (74,332)
Total Other Income (Expenses) (1,106,513) (1,463,299) (1,338,193)
Income before income tax expense 12,557,222 4,388,470 10,971,419
Income tax expense 4,126,908 1,702,816 4,343,968
Net income 8,430,314 2,685,654 6,627,451
Net loss attributable to Noncontrolling Interest 0 0 0
Net income attributable to Arabian American Development Company $ 8,430,314 $ 2,685,654 $ 6,627,451
Net income per common share      
Basic earnings per share $ 0.35 $ 0.11 $ 0.28
Diluted earnings per share $ 0.35 $ 0.11 $ 0.28
Weighted average number of common shares outstanding      
Basic 23,992,538 23,769,047 23,733,955
Diluted 24,267,289 23,780,303 23,800,499