Segment Information

12 Months Ended

Dec. 31, 2013

Segment Information [Abstract]

SEGMENT INFORMATION

NOTE 13 – SEGMENT INFORMATION

For the years ended December 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 years ended December 31, 2013 and 2012 was as follows:

	2013			2012
Revenues:
Forged rolled rings and related components	$	33,775,849		$	31,940,931
Dyeing and finishing equipment		38,336,813			25,258,290
		72,112,662			57,199,221
Depreciation:
Forged rolled rings and related components		4,355,417			5,077,390
Dyeing and finishing equipment		2,348,969			1,442,004
		6,704,386			6,519,394
Interest expense:
Forged rolled rings and related components		141,324			239,974
Dyeing and finishing equipment		159,057			65,685
		300,381			305,659
Net income (loss):
Forged rolled rings and related components		3,244,455			1,359,449
Dyeing and finishing equipment		5,747,096			3,737,787
Other (a)		(805,974	)		(898,656	)
		8,185,577			4,198,580
Identifiable long-lived tangible assets at December 31, 2013 and 2012 by segment:
Forged rolled rings and related components	$	43,987,670		$	40,636,142
Dyeing and finishing equipment		26,607,468			18,799,958
Equipment held for operating lease (b)		4,751,206			7,118,555
	$	75,346,344		$	66,554,655
Identifiable long-lived tangible assets at December 31, 2013 and 2012 by geographical location:
China	$	75,346,344		$	66,554,655
United States		-			-
	$	75,346,344		$	66,554,655

(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.

(b)   The Company does not allocate the equipment held for operating lease to any operating segment.