China New Borun Corporation announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenues of RMB 529,187,562 against RMB 518,001,425 a year ago. Operating income was RMB 33,712,880 against RMB 37,156,664 a year ago. Income before income taxes was RMB 7,791,810 against RMB 14,400,372 a year ago. Net income was RMB 5,843,858 against RMB 10,800,278 a year ago. Basic and diluted earnings per share were RMB 0.23 against RMB 0.42 a year ago. The increase in revenue was mainly attributable to the incremental revenue contribution from the Company's CPE and foam insulation businesses that were introduced in the fourth quarter of 2013. Cash flows provided by operating activities were RMB 394.8 million.

For the nine months, the company reported revenues of RMB 1,823,806,418 against RMB 1,597,187,463 a year ago. Operating income was RMB 167,791,292 against RMB 133,372,120 a year ago. Income before income taxes was RMB 88,183,759 against RMB 66,064,946 a year ago. Net income was RMB 66,137,819 against RMB 49,071,266 a year ago. Basic and diluted earnings per share were RMB 2.57 against RMB 1.91 a year ago.

The Company estimates that its revenue for the fourth quarter of 2014 will be in the range of RMB 654 million ($106.3 million) to RMB 659 million ($107.1 million), a decrease of approximately 0.6% to an increase of 0.2% over the same quarter of 2013.