China Marine Food Group Limited reported consolidated earnings results for the fourth quarter and full year ended December 31, 2011. Total revenue in all segments including Mingxiang(R)-branded seafood snack foods, "Hi-Power" beverages and marine catch, for the quarter ended December 31, 2011 was $64.3 million, a 21.8% increase from $52.8 million in the prior year's period. Operating income in the fourth quarter of 2011 was $1.4 million, with operating margin of 2.2%, compared to $7.4 million and 14.0%, respectively in the prior year period. Excluding the $0.6 million non-cash amortization expense related to the "Hi-Power" acquisition and $0.6 million after-tax non-cash stock-based compensation expense, operating income was $2.6 million. Adjusted non-GAAP net income for the fourth quarter of 2011, excluding the non-cash amortization and after-tax stock-based compensation expenses of $1.2 million, was $2.3 million against $6.8 million for the same period a year ago. Adjusted earnings were $0.08 per share based on 29.7 million fully diluted shares against $0.24 for the same period a year ago. Net sales for the twelve months ended December 31, 2011 were $143.9 million against $122.7 million, a 17.3% increase from the same period a year ago. Reported GAAP net income was $8.6 million for the twelve months ended December 31, 2011 while diluted EPS was $0.29 against net income of $21.1 million or $0.73 diluted per share for the same period a year ago. Excluding the $4.2 million of non-cash expenses, adjusted non-GAAP net income and diluted EPS were $12.8 million and $0.43, respectively. Net income attributable to company was $8.6 million against $21.1 million for the same period a year ago. Net cash used in operating activities was $8.4 million against $6.3 million for the same period a year ago. Purchase of property, plant and equipment was $36,717 against $233,121 million for the same period a year ago. Income from operations was $10.4 million against $25.3 million for the same period a year ago. Income before income taxes was $10.6 million against $4.5 million for the same period a year ago.