Segment Information

12 Months Ended

Dec. 31, 2012

Segment Information [Abstract]

SEGMENT INFORMATION

NOTE 13 – SEGMENT INFORMATION

For the years ended December 31, 2012 and 2011, the Company operated in two reportable business segments - (1) the manufacture of forged rolled rings and related components for the wind power and other industries segment, which also includes the manufacture of the Company’s solar industry products, and (2) the manufacture of dyeing and finishing equipment segment. The Company’s reportable segments are strategic business units that offer different products. They are managed separately based on the fundamental differences in their operations. All of the Company’s operations are conducted in the PRC.

Information with respect to these reportable business segments for the years ended December 31, 2012 and 2011 was as follows:

	2012			2011
Revenues:
Forged rolled rings and related components	$	31,940,931		$	37,846,190
Dyeing and finishing equipment		25,258,290			17,733,072
		57,199,221			55,579,262
Depreciation:
Forged rolled rings and related components		5,077,390			4,416,579
Dyeing and finishing equipment		1,442,004			934,780
		6,519,394			5,351,359
Interest expense:
Forged rolled rings and related components		239,974			193,709
Dyeing and finishing equipment		65,685			-
Other (a)		-			-
		305,659			193,709
Net income (loss):
Forged rolled rings and related components		1,359,449			4,586,263
Dyeing and finishing equipment		3,737,787			2,098,426
Other (a)		(898,656	)		(924,146	)
		4,198,580			5,760,543
Identifiable long-lived tangible assets at December 31, 2012 and 2011 by segment:
Forged rolled rings and related components	$	47,754,697		$	51,930,395
Dyeing and finishing equipment		18,799,958			12,111,684
	$	66,554,655		$	64,042,079
Identifiable long-lived tangible assets at December 31, 2012 and 2011 by geographical location:
China	$	66,554,655		$	64,042,079
United States		-			-
	$	66,554,655		$	64,042,079

(a)         The Company does not allocate any general and administrative expenses of its U.S. activities to its reportable segments, because these activities are managed at a corporate level.