China Wind Systems Inc. (CWS) Posts Q4, FY2010 Results reflecting Expanded Market Presence
China Wind Systems Inc., a leading supplier of forged rolled rings and other forged components used for wind power and industrial equipment primarily for the textile industry in China, today announced its financial results for the fourth quarter and full year ended December 31, 2010. Fourth-quarter revenue for 2010 increased 41.5 percent to $22.5 million, compared to $15.9 million in the same period of 2009. Gross profit for the fourth quarter of 2010 increased 41.0 percent to $6.1 million, compared to $4.3 million for the same period in 2009. Gross margin remained similar at 27.2 percent during the fourth quarter…