Our total revenue for the second quarter of 2012 was $12.8 million 1.8% increased compared to the same period last year. Our gross margin was $2.7 million, a 11.7% decrease compared to the same year period over last year. Gross margin decline to 21% during the second quarter compared to 24.2% for the same quarter a year ago.Despite the growth in revenue, gross margin declined to 21% to 24% a year ago. The decline in gross margin was mainly attributable to the forged rolled rings and related product segments and was primarily due to lower operational cost efficiencies including the allocation of fixed costs s depreciation to cost of revenues the operated lower production levels.
Cleantech Solutions International Management Discusses Q2 2012 Results - Earnings Call Transcript
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