China Marine Food Group Limited reported unaudited consolidated earnings results for third quarter and nine months ended September 30, 2012. For the quarter, the company's total revenue was $30,760,679 against $30,918,106 a year ago. Loss from operations was $2,430,478 against income of $1,015,978 a year ago. Loss before tax was $2,500,255 against income of $1,090,777 a year ago. Net loss attributable to company was $2,500,202 or $0.08 per basic and diluted share against profit of $807,606 or $0.03 per basic and diluted share a year ago. Adjusted net income was $0.7 million or $0.02 per diluted share against $2.0 million or $0.07 per diluted share a year ago.

For the nine months, the company's total revenue was $107,128,799 against $79,643,884 a year ago. Loss from operations was $5,941,095 against income of $8,929,132 a year ago. Loss before tax was $5,975,877 against income of $9,119,541 a year ago. Net loss attributable to company was $6,183,452 or $0.21 per basic and diluted share against profit of $7,436,993 or $0.25 per basic and diluted share a year ago. Net cash used in operating activities was $4,101,140 against net cash from operating activities was $22,470,679 a year ago. Purchase of property, plant and equipment was $172,991 against $26,045 a year ago. Adjusted net loss was $1.1 million or $0.04 per diluted share against income of $10.5 million or $0.36 per diluted share a year ago. The primary cause of the year-over-year change in cash flows was due to higher inventories of trading materials in 2012.

For the quarter, the company reported goodwill impairment was $2,571,488.