Segment Information

6 Months Ended

Jun. 30, 2013

Segment Information [Abstract]

SEGMENT INFORMATION

NOTE 12 - SEGMENT INFORMATION

For the three and six months ended June 30, 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 and six months ended June 30, 2013 and 2012 was as follows:

	Three Months Ended June 30,						Six Months Ended June 30,
	2013			2012			2013			2012
Revenues:
Forged rolled rings and related components	$	8,197,830		$	8,208,210		$	14,724,531		$	13,793,665
Dyeing and finishing equipment		9,016,304			4,624,653			16,374,302			8,448,427
		17,214,134			12,832,863			31,098,833			22,242,092
Depreciation:
Forged rolled rings and related components		1,059,267			1,215,536			2,105,844			2,432,705
Dyeing and finishing equipment		592,341			329,630			1,115,315			659,806
		1,651,608			1,545,166			3,221,159			3,092,511
Interest expense:
Forged rolled rings and related components		32,761			52,563			79,913			130,196
Dyeing and finishing equipment		31,765			17,800			89,740			30,200
		64,526			70,363			169,653			160,396
Net income (loss):
Forged rolled rings and related components		1,223,554			750,036			2,020,120			1,076,705
Dyeing and finishing equipment		1,258,828			506,797			2,219,987			916,140
Other (a)		(159,829	)		(185,463	)		(294,954	)		(618,680	)
	$	2,322,553		$	1,071,370		$	3,945,153		$	1,374,165
Identifiable long-lived tangible assets at June 30, 2013 and December 31, 2012 by segment:	June 30, 2013			December 31, 2012
Forged rolled rings and related components	$	43,279,304		$	40,636,142
Dyeing and finishing equipment		20,861,705			18,799,958
	$	64,141,009		$	59,436,100
Identifiable long-lived tangible assets at June 30, 2013 and December 31, 2012 by geographical location:	June 30, 2013			December 31, 2012
China	$	64,141,009		$	59,436,100
United States		-			-
	$	64,141,009		$	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.