Fuling Global Inc. announced audited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the year of 2017, total revenues increased by $22.37 million, or 21.3%, to $127.25 million from $104.88 million for the prior year. The increase in total Revenue was a combined result of increases in both sales volume and blended ASP. Research and development expenses increased by $0.60 million, or 25.4%, to $2.95 million for the year of 2017 from $2.36 million for the prior year. Operating income decreased by $0.92 million, or 10.8%, to $7.60 million for the year of 2017 from $8.52 million for the prior year. Income before income taxes decreased by $2.86 million, or 28.7%, to $7.11 million for the year of 2017 from $9.97 million for the prior year. The decrease was a result of increased operating expenses that more than offset increased gross profit in 2017. Net income decreased by $1.65 million, or 20.8%, to $6.29 million for the year of 2017 from $7.94 million for the prior year. After deduction of non-controlling interest, net income attributable to Fuling Global decreased by $1.67 million, or 21.0%, to $6.28 million for the year of 2017 from $7.94 million for the prior year. Basic and diluted earnings per share were $0.40 for the year of 2017, compared to $0.50 for the prior year. The decrease in earnings per share was mainly due to decrease in net income as a result of increased operating expenses and other net expenses that more than offset increased gross profit in 2017. Net cash provided by operating activities was $2.47 million for the year of 2017, compared to $5.15 million for the prior year. Purchase of property and equipment was $2,474,638 compared to $5,145,157 a year ago. Purchase of intangible assets was $2,602 compared to $8,298,564 a year ago.