China Gerui Advanced Materials Group Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the period, the company reported revenue of $68,689,567 against $62,676,359 a year ago. Operating income was $19,016,375 against $10,039,573 a year ago. Income before income taxes was $18,770,446 against $7,468,021 a year ago. Net income was $14,010,608 or $0.24 per basic and diluted share against $3,995,224 or $0.08 per basic and diluted share a year ago. Net cash provided by operating activities was $6,539,020 against $11,419,900 a year ago. Cash paid for property, plant and equipment was $271,799 against $5,836,881 a year ago. Payment of purchases intangible assets was $16,435. Non-GAAP adjusted operating income was $19,016,375 against $15,739,573 a year ago. Non-GAAP adjusted net income was $14,010,608 or $0.024 per diluted share against $9,695,224 or $0.20 per diluted share a year ago. Non-GAAP adjusted EBITDA was $21,980,432 against $17,065,872 a year ago. The increase in revenue was primarily due to a 10.9% increase in sales volume to approximately 76,500 tons for the first quarter of 2012 as compared to approximately 69,000 tons for the same period of 2011, partially offset by a 1.2% decrease in the Company's average selling price of $898 per ton for the first quarter of 2012 as compared to an average selling price of $909 for the same period of 2011. The increase in operating income in the first quarter 2012 as compared to adjusted operating income in the comparable year-ago period is primarily due to the corresponding increase in gross profit and slightly lower operating expenses as a percent of revenue in the first quarter of 2012 compared to the same period of 2011. The company provided earnings guidance for the year 2012. For the period, the company expects revenue of between $395 million and $410 million and diluted earnings per share of between $1.32 and $1.37. The company will continue to provide updates of its 2012 outlook in view of the uncertainties associated with macroeconomic conditions in China and other risk factors.