The increase in revenue is summarized as follows:
Revenue from the sale of forged rolled rings exclusively to the wind power industry decreased by 28.4% to $3.2 million, representing 18.5% of net revenue, compared to $4.5 million, or 38.5% of net revenue, in the comparable period last year.
Revenue from the sale of forged rolled rings to other industries increased 112.1% to $6.6 million, or 38.2% of net revenue, compared with $3.1 million, or 26.7% of net revenue for the comparable period of the prior year.
The fact that the company can churn a 64% increase year over year in profit is incredible when considering 20% of their business is not making as much money as it was in 2011. This is just a small part of the good news for this company found in the third quarter results. Look over the report carefully and you will find that the company is undervalued. There are many other positive things especially in the outlook that are great to see.