China Armco Metals, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2013
For the six months, net revenues were $42,027,253 compared to $53,578,925 for the same period a year ago. Net loss was $141,714 or $0.01 per basic and diluted share compared to net loss of $3,365,596 or $0.19 per basic and diluted share for the corresponding period last year. Loss before income taxes was $80,026 against $3,214,554 of prior year period. Net cash used in operating activities was $2,078,664 million against cash provided by operating activities of $4,952,087 of prior year period. Purchases of property, plan and equipment were $165,656 against $1,343,721 of prior year period. Income from operations was $51,073 against loss from operations of $1,436,548 a year ago. Loss from continuing operations was $141,714 against $3,365,596 a year ago. The company during the first half of 2013 spent $0.17 million on capital expenditures.