Yulong Eco-Materials Limited announced unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2016. For the quarter, the company reported total revenues of $11,204,864 against $10,448,616 a year ago. Income from operations was $3,555,186 against $3,035,737 a year ago. Income before income taxes was $3,356,291 against $2,696,028 a year ago. Net income was $2,545,500 or $0.21 per basic and diluted share against $2,047,437 or $0.26 per basic and diluted share a year ago.

For the nine months, the company reported total revenues of $37,147,392 against $33,649,400 a year ago. Income from operations was $11,397,407 against $9,351,860 a year ago. Income before income taxes was $11,087,743 against $8,303,948 a year ago. Net income was $8,222,432 or $0.69 per basic and diluted share against $6,206,561 or $0.78 per basic and diluted share a year ago.

Fourth quarter of fiscal year 2016 is expected to be another strong quarter in terms of revenue and net income.

For the fiscal year 2016, the company expects revenue of between $49 million and $52 million, representing an increase of 7% to 12% against the fiscal 2015.  The CWM segment, which commenced operations in April 2015, has become the catalyst of top and bottom line growth.  For fiscal 2016, the company expects this segment to continue to grow and to represent over 15% of Yulong's total revenue, while its brick and cement businesses are expected to remain stable. Net income to continue to grow at a faster rate than revenue, due to revenue from its high margin CWM business.  Thus, the company expects net income to be between $11 million and $12 million, representing an increase of approximately 27% to 38% against fiscal 2015.