China Marine Food Group Limited Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012
For the six months, revenue, net was $76,368,120 against $48,725,778 last year. Loss from operations was $3,510,617 against income from operations of $7,913,154 last year. Loss before income taxes was $3,475,622 against income before income taxes of $8,028,764 last year. Net loss attributable to the company was $3,683,250 or $0.12 per basic and diluted share against net income attributable to the company of $6,629,387 or $0.23 per basic and diluted share last year. Net cash provided by operating activities was $12,881,460 against $27,013,018 last year. Purchase of property, plant and equipment was $68,300 against $14,683 last year. Excluding $1.3 of non-cash amortization expenses related to prior acquisitions and $0.6 million of after-tax non-cash stock-based compensation expenses, non-GAAP operating loss was $1.6 million. Adjusted net loss was approximately $1.8 million or $0.06 per share against adjusted net income of $8.4 million or $0.29 per share last year.