Asia Carbon Industries, Inc. reported consolidated unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company's net sales were $5,963,945, 53% lower from $12,581,692 for the same period in 2012. Net income was $389,953, a decrease of $1,417,128 or 78%, compared to $1,807,081 in the same period of 2012.

The decrease in net income reflects a lower gross profit due to the decline in selling prices and the higher operating expenses, which were partly offset by lower income taxes. Income from operations was $688,763 against $2,523,873 a year ago. Income before provision for income tax was $654,512 against $2,489,299 a year ago.

Net income per share – basic and diluted was $0.01 against $0.04 a year ago. Net cash provided by operating activities was $2,026,180 against $550,369 a year ago. Additions to construction in progress were $2,646,840.