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Shengkai Innovations, Inc. Reports Fourth Quarter and FY2011 Results

Shengkai Innovations, Inc. (Nasdaq:VALV), a leading ceramic valve manufacturer in the People's Republic of China (the "PRC"), announced results for its fourth quarter and FY2011 ended June 30, 2011.

Revenues in the fourth quarter increased 70.9% year-over-year to approximately $27.3 million from approximately $16.0 million for the same quarter of FY2010. The increase was primarily attributable to the Company's continuous marketing efforts, increased customer demand and expanded production capacity at the new facility. Sales to customers in all business segments have grown during the quarter.

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