THT Heat Transfer Technology, Inc. announces unaudited fourth quarter and audited fiscal year earnings results for the year ended December 31, 2012. For the quarter, the company reported sales revenue increased by 43.9% year-over-year to USD 27.6 million, exceeding the Company's previously stated guidance of USD 11 million to USD 13 million. Operating income decreased by 35.1% year-over-year to USD 1.8 million. Net income attributable to common stockholders decreased by 63.4% year-over-year to USD 0.7 million.

For the year, the company reported sales revenue for the fiscal year 2012 was USD 62.8 million, an 8.7% increase from USD 57.7 million in 2011, primarily attributable to increased demand of heat exchange units in response to rapid urbanization in China. Income before income taxes decreased by 57.2% to USD 3.9 million from USD 9.1 million in 2011. The decrease was mainly attributable to the decreased gross profit and increased total expenses. Net income attributable to common stockholders was USD 3.2 million a decrease of 60.0% compared to USD 7.9 million in 2011. Basic and fully diluted net income per share was USD 0.15 compared with USD 0.39 in 2011. Net cash provided by operating activities was USD 4.2 million compared with net cash used in operating activities of USD 13.1 million for 2011. The increase in net cash provided by operating activities was mainly because the inventories increased USD 18.0 million in 2011 but decreased USD 0.9 million in 2012.

The company expects to generate net revenues in the range of USD 7 million to USD 9 million during the first quarter 2013, compared with USD 11.4 million in the same period of 2012. This represents the Company's current and preliminary view, and is subject to change.