Armco Metals Holdings Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported net revenues of $32,879,242 against $25,332,787 a year ago. Income from operations was $1,809,982 against income from operations of $1,102,046 a year ago. Loss before income taxes provision was $761,925 against income before income taxes provision of $1,018,252 a year ago. Net loss was $761,925 or $0.01 basic and diluted per share against net income of $948,054 or $0.04 basic and diluted per share a year ago. The increase in revenue was primarily due to an increase of $8.3 million in the sale of scrap metals and an increase of $2.9 million in sales of steel billet, partially offset by a $2.4 million decline in sales of manganese ore, a $1.3 million decrease in sales of chrome ore, and a $0.7 million decrease in sales of titanium.

For the six months, the company reported net revenues of $42,797,893 against $42,027,253 a year ago. Loss from operations was $1,642,229 against income from operations of $51,073 a year ago. Loss before income taxes provision was $4,382,206 against $80,026 a year ago. Net loss was $4,382,206 or $0.11 basic and diluted per share against $141,714 or $0.01 basic and diluted per share a year ago. Net cash provided by operating activities was $3,728,668 against net cash used in operating activities of $2,078,664 a year ago. Revenues increased slightly as compared to revenues for the same period of 2013, primarily due to the decrease in trading business sales in first quarter of 2013.