A particularly good number is pre-tax income which was up 16%, compared to 10% for net income (don't know why the tax rate apparently increased). The former is more indicative of the growth of the business and consistent with the 16% increase in sales. All in all a good report IMHO. Remember that Q4 is a seasonally weak quarter. The commentary regarding initiatives to increase production are positive. Plus, the yen has been strengthening recently which is a positive for Japanese sales in Q1.
Just to be clear, the 10% in earnings growth reported for Q4 (16% pre-tax) was not sequential. It was as compared to Q4 of 2014. Obviously, it will be important to see if the growth continues when Q1 and Q2 are announced, but Q4 was a good quarter and the commentary bodes well going forward. I agree with you that the large disparity between pre-tax and net results is puzzling. However, even the lower net number is a good one.
If Yahoo doesn't allow the link to take, go to seeking alpha and put in amnf in the search window. It's the first article with Buffett in the title.
You say you need to see 10% Q over Q. That's exactly what they delivered in q4 -- 10% q over q.. As I pointed out, the 16% increase pre-tax is particularly impressive and far more meaningful in demonstrating growth.
They had a bad quarter in Q3. The many years of positive surprises and consistent growth gives them the right to have one bad quarter that gets forgotten about. Things seem to be back on track with the quarter reported today and the growth initiatives going forward.
The major new customer is very good news, as is the fact that Asia is back on track. They wouldn't be expanding capacity if they weren't optimistic about demand going forward.