China Power Equipment, Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported revenue, net of $9,129,507 against 10,675,377 a year ago. Net income from operations was $1,947,226 against 2,499,179 a year ago. Net income before income taxes was $1,966,790 against 2,504,026 a year ago. Net income was $1,631,672 against 2,091,401 a year ago. Earnings per diluted share was $0.07 against $0.09 a year ago. The decrease in Revenue was primarily due to the lower average selling prices of amorphous alloy cores and fewer units of amorphous alloy transformers sold, partly offset by higher average unit prices of amorphous alloy transformers.

For the nine months, the company reported revenue, net of $24,866,878 against $27,421,060 a year ago. Net income from operations was $4,936,657 against $5,809,466 a year ago. Net income before income taxes was $4,961,112 against $5,849,180 a year ago. Net income was $4,081,590 against $4,830,445 a year ago. Earnings per diluted share were $0.17 against $0.20 a year ago. Net cash provided by operating activities was $9,346,692 against net cash provided by used in operating activities of $1,271,725 a year ago. Addition in plant and equipment was $7,183 against $3,557 a year ago.