Segment Information (Tables)

3 Months Ended

Mar. 31, 2015

Segment Information [Abstract]

Segment Information

	2015			2014
Revenues
Forged rolled rings and related components	$	7,273,612		$	8,257,133
Dyeing and finishing equipment		6,523,352			9,378,138
Petroleum and chemical equipment		1,849,501			-
		15,646,465			17,635,271
Depreciation
Forged rolled rings and related components		698,441			1,217,058
Dyeing and finishing equipment		862,084			748,216
Petroleum and chemical equipment		513,982			-
		2,074,507			1,965,274
Interest expense
Forged rolled rings and related components		8,104			22,565
Dyeing and finishing equipment		35,658			35,162
Petroleum and chemical equipment		13,581			-
		57,343			57,727
Net income (loss)
Forged rolled rings and related components		613,663			1,229,436
Dyeing and finishing equipment		748,216			1,345,556
Petroleum and chemical equipment		226,429			-
Other (a)		(345,874	)		(178,634	)
	$	1,242,434		$	2,396,358

Identifiable long-lived tangible assets at March 31, 2015 and December 31, 2014 by segment	March 31, 2015		December 31, 2014
Forged rolled rings and related components (b)	$	22,013,701	$	38,937,371
Dyeing and finishing equipment		29,977,227		30,691,226
Petroleum and chemical equipment (b)		15,893,957		-
Equipment held for sale		424,573		422,540
	$	68,309,458	$	70,051,137

Identifiable long-lived tangible assets at March 31, 2015 and December 31, 2014 by geographical location	March 31, 2015		December 31, 2014
China	$	68,309,458	$	70,051,137
United States		-		-
	$	68,309,458	$	70,051,137

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

(b) Reflects reclassification of property and equipment previously used in the forged rolled rings and related components segment to petroleum and chemical equipment segment.