Armco Metals Holdings Inc. reported unaudited consolidated results for the first quarter ended March 31, 2015. For the quarter, the company reported net revenues of $43,070,014 compared to $9,918,651 a year ago. The significant increase in revenue in the first quarter of 2015 was primarily due to $15.8 million in the sales of barley, an increase of $13.8 million in the sales of scrap metals, $8.8 million in the sales of raw wood, and an increase of $2.2 million in the sales of steel billet, partially offset by a decrease of $1.3 million in the sales of chrome ore and a decrease of $5.9 million in the sales of manganese ore.

Loss from operations was $5,321,202 compared to $3,452,211 a year ago. Loss before income tax was $1,142,644 compared to $3,620,281 a year ago. Net loss was $1,032,835 or $0.18 per basic and diluted share compared to $3,620,281 or $1.20 per basic and diluted share a year ago.

Net cash used in operating activities was $1,348,944 compared to $281,733 a year ago. Purchases of property and equipment were $2,352,379 compared to $1,505,149 a year ago.