Segment Information

3 Months Ended

Mar. 31, 2014

Segment Information [Abstract]

SEGMENT INFORMATION

NOTE 11 - SEGMENT INFORMATION

For the three months ended March 31, 2014 and 2013, 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 textile 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, 2014 and 2013 was as follows:

	2014			2013
Revenues:
Forged rolled rings and related components	$	8,257,133		$	6,526,701
Dyeing and finishing equipment		9,378,138			7,357,998
		17,635,271			13,884,699
Depreciation:
Forged rolled rings and related components		1,217,058			1,046,577
Dyeing and finishing equipment		748,216			522,974
		1,965,274			1,569,551
Interest expense:
Forged rolled rings and related components		22,565			47,152
Dyeing and finishing equipment		35,162			57,975
		57,727			105,127
Net income (loss):
Forged rolled rings and related components		1,229,436			796,566
Dyeing and finishing equipment		1,345,556			961,159
Other (a)		(178,634	)		(135,125	)
	$	2,396,358		$	1,622,600

	March 31, 2014		December 31, 2013
Identifiable long-lived tangible assets at March 31, 2014 and December 31, 2013 by segment:
Forged rolled rings and related components	$	42,412,116	$	43,987,670
Dyeing and finishing equipment		28,754,866		26,607,468
Equipment held for operating lease (b)		4,711,496		4,751,206
	$	75,878,478	$	75,346,344
Identifiable long-lived tangible assets at March 31, 2014 and December 31, 2013 by geographical location:
China	$	75,878,478	$	75,346,344
United States		-		-
	$	75,878,478	$	75,346,344

(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.