Look again hillgoat60. This was the third consecutive quarter of revenue declines and all four quarters in 2011 showed a profit.
Sales declines this quarter were, to quote the CFO, "more than entirely due to weakness in European markets." He said it twice for emphasis. Increases for both segments were pretty impressive in North America. PMC orders also increased in South America with Roll Covers flat. Management did not provide percentages for Asia but said Roll Covers improved while PMC orders were "softer than expected".
You could be right about hitting $2 on share price. Under the radar small caps are often mispriced. If you shorted below $4 on the 9th, the pop on the 10th must have hurt. I don't think posting obviously inaccurate statements is going to help.