|
 |
| |
|
|
|
Three Months Ended
September 30,
|
|
Six Months Ended
September 30,
|
|
|
|
2008
|
|
2007
|
|
2008
|
|
2007
|
|
|
|
|
|
|
|
|
|
|
|
REVENUES
|
$
|
14,260,705
|
$
|
18,215,622
|
$
|
30,107,977
|
$
|
32,902,228
|
|
|
|
|
|
|
|
|
|
|
|
COST OF GOODS
SOLD
|
|
(15,212,114)
|
|
(16,376,557)
|
|
(28,332,521)
|
|
(28,450,295)
|
|
|
|
|
|
|
|
|
|
|
|
GROSS (LOSS) PROFIT
|
|
(951,409)
|
|
1,839,065
|
|
1,775,456
|
|
4,451,933
|
|
General and
administrative
|
|
510,894
|
|
541,512
|
|
1,457,664
|
|
1,020,280
|
|
Selling and
distribution
|
|
291,657
|
|
208,584
|
|
567,093
|
|
644,997
|
|
Research and
development
|
|
89,982
|
|
-
|
|
109,435
|
|
-
|
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME FROM OPERATIONS
|
|
(1,843,942)
|
|
1,088,969
|
|
(358,736)
|
|
2,786,656
|
|
|
|
|
|
|
|
|
|
|
|
OTHER INCOME (EXPENSES)
|
|
|
|
|
|
|
|
|
|
Interest expense, net
|
|
(232,826)
|
|
(161,789)
|
|
(417,440)
|
|
(261,049)
|
|
Government grants
|
|
1,008,964
|
|
79,332
|
|
997,297
|
|
78,714
|
|
Other (expenses) income, net
|
|
(1,209)
|
|
(2,644)
|
|
(33,457)
|
|
7,905
|
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME FROM OPERATIONS BEFORE INCOME TAXES
|
|
(1,069,013)
|
|
1,003,868
|
|
187,664
|
|
2,612,226
|
|
|
|
|
|
|
|
|
|
|
|
INCOME TAX BENEFIT (EXPENSE)
|
|
478,567
|
|
(160,976)
|
|
58,459
|
|
(747,548)
|
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME FROM CONTINUING OPERATIONS
|
|
(590,446)
|
|
842,892
|
|
246,123
|
|
1,864,678
|
|
|
|
|
|
|
|
|
|
|
|
DISCONTINUED
OPERATION
|
|
|
|
|
|
|
|
|
|
Gain from discontinued operation (net of income tax $0 and $396,
respectively)
|
|
-
|
|
1,761
|
|
-
|
|
1,761
|
|
Gain from disposition
of discontinued operation
|
|
-
|
|
19,359
|
|
-
|
|
19,931
|
|
|
|
|
|
|
|
|
|
|
|
NET (LOSS) INCOME
|
|
(590,446)
|
|
864,012
|
|
246,123
|
|
1,886,370
|
|
|
|
|
|
|
|
|
|
|
|
OTHER
COMPREHENSIVE INCOME
|
|
|
|
|
|
|
|
|
|
Foreign currency
translation gain
|
|
117,832
|
|
145,816
|
|
549,315
|
|
537,348
|
|
|
|
|
|
|
|
|
|
|
|
OTHER
COMPREHENSIVE INCOME BEFORE TAX
|
|
117,832
|
|
145,816
|
|
549,315
|
|
537,348
|
|
|
|
|
|
|
|
|
|
|
|
INCOME TAX
EXPENSE RELATED TO OTHER COMPREHENSIVE INCOME
|
|
-
|
|
64,603
|
|
-
|
|
177,325
|
|
|
|
|
|
|
|
|
|
|
|
OTHER
COMPREHENSIVE INCOME, NET
|
|
117,832
|
|
81,213
|
|
549,315
|
|
360,023
|
|
|
|
|
|
|
|
|
|
|
|
COMPREHENSIVE (LOSS) INCOME
|
$
|
(472,614)
|
$
|
945,225
|
$
|
795,438
|
$
|
2,246,393
|
|
|
|
|
|
|
|
|
|
|
|
WEIGHTED
AVERAGE SHARES OUTSTANDING, BASIC AND
DILUTED
|
|
12,640,000
|
|
12,640,000
|
|
12,640,000
|
|
12,640,000
|
|
|
|
|
|
|
|
|
|
|
|
(LOSS) INCOME FROM CONTINUING OPERATIONS PER
SHARE, BASIC AND DILUTED
|
$
|
(0.05)
|
$
|
0.07
|
$
|
0.06
|
$
|
0.15
|
|
INCOME FROM DISCONTINUED
OPERATION PER SHARE, BASIC AND DILUTED
|
$
|
-
|
$
|
-
|
$
|
-
|
$
|
-
|
|
NET (LOSS) INCOME PER SHARE, BASIC AND DILUTED
|
$
|
(0.05)
|
$
|
0.07
|
$
|
0.06
|
$
|
0.15
|
|
|
