Segment Information

3 Months Ended

Mar. 31, 2013

Segment Information [Abstract]

SEGMENT INFORMATION

NOTE 12 - SEGMENT INFORMATION

For the three months ended March 31, 2013 and 2012, 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 three months ended March 31, 2013 and 2012 was as follows:

	Three Months Ended March 31,
	2013			2012
Revenues:
Forged rolled rings and related components	$	6,526,701		$	5,585,455
Dyeing and finishing equipment		7,357,998			3,823,774
		13,884,699			9,409,229
Depreciation:
Forged rolled rings and related components		1,046,577			1,217,169
Dyeing and finishing equipment		522,974			330,176
		1,569,551			1,547,345
Interest expense:
Forged rolled rings and related components		47,152			77,633
Dyeing and finishing equipment		57,975			12,400
Other (a)		-			-
		105,127			90,033
Net income (loss):
Forged rolled rings and related components		796,566			326,669
Dyeing and finishing equipment		961,159			409,343
Other (a)		(135,125	)		(433,217	)
		1,622,600			302,795
Identifiable long-lived tangible assets at March 31, 2013 and December 31, 2012 by segment:		March 31, 2013			December 31, 2012
Forged rolled rings and related components	$	39,812,045		$	40,636,142
Dyeing and finishing equipment		21,111,271			18,799,958
	$	60,923,316		$	59,436,100
Identifiable long-lived tangible assets at March 31, 2013 and December 31, 2012 by geographical location:
China	$	60,923,316		$	59,436,100
United States		-			-
	$	60,923,316		$	59,436,100

(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.