China New Borun Corporation announced unaudited consolidated earnings results for the first quarter ended march 31, 2012. For the quarter, the company reported revenues of RMB 721.175 million, operating income of RMB 94.134 million, income before income taxes of RMB 84.913 million and net income of RMB 63.685 million or RMB 2.48 per basic and diluted share compared to revenues of RMB 571.811 million, operating income of RMB 111.678 million, income before income taxes of RMB 103.933 million and net income of RMB 77.614 million or RMB 3.02 per basic and diluted share a year ago. Cash flows provided by operating activities for the quarter ended March 31, 2012 were approximately RMB 56.5 million ($9.0 million), reflecting the company's strong operating results. Operating income decreased by 15.7% due to the company's strong revenue growth and offset by increased cost of goods sold. The company estimates that its revenue for the second quarter of 2012 will be in the range of RMB 735.0 million ($116.8 million) to RMB 755.0 million ($120.0 million), an increase of approximately 1.5% to 4.2% over the same quarter in 2011.