China Ceramics Co., Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. Revenue for the first quarter ended March 31, 2013 was RMB 149.2 million ($24.0 million), down 59.9% from RMB 372.3 million ($59.1 million) for the first quarter ended March 31, 2012. The year-over-year decrease in revenue was primarily driven by a 47.9% decrease in the sales volume of ceramic tiles to 6.1 million square meters in the first quarter of 2013 from $11.7 million square meters in the first quarter of 2012. The decrease in revenue was also driven by a 23.3% decrease in the company’s average selling price, which decreased in the first quarter of 2013 to RMB 24.4 per square meter compared to RMB 31.8 per square meter in the comparable quarter of 2012. Loss from operations before taxation for the first quarter ended March 31, 2013 was RMB 6.5 million ($1.1 million), as compared to RMB 96.6 million ($15.4 million) of profit from operations before taxation in the first quarter of 2012. The year-over-year decrease in profit from operations was primarily the result of the decrease in the sales volume and lower gross profit in the first quarter of 2013. Net loss for the first quarter ended March 31, 2013 was RMB 5.4 million ($0.9 million), as compared to a net profit of $71.7 million ($11.4 million) in the comparable period of 2012. The year-over-year decrease in net profit was primarily the result of the decrease in the sales volume and lower gross profit in the in the first quarter of 2013. Losses per fully diluted share were RMB 0.26 ($0.04) for the first quarter ended March 31, 2013 as compared to earnings per fully diluted share of RMB 3.51 ($0.56) over the same period in 2012. Non-GAAP losses before taxation, which excludes share-based compensation expenses, was RMB 5.8 million ($0.9 million) in the first quarter ended March 31, 2013, as compared to from RMB 98.4 million ($15.6 million) of non-GAAP profit before taxation in the same period of 2012. Non-GAAP net loss, which excludes share-based compensation expenses, was RMB 4.6 million ($0.7 million) in the first quarter ended March 31, 2013, as compared to RMB 73.4 million ($11.7 million) of non-GAAP net profit in the same period of 2012. Non-GAAP loss per fully diluted share, which excludes share-based compensation expenses, was RMB 0.23 ($0.04) in the first quarter ended March 31, 2013, as compared to RMB 3.59 ($0.57) of non-GAAP earnings per fully diluted share in the same period of 2012. Cash flow generated from operating activities was RMB 99.1 million ($15.9 million) for the quarter ended March 31, 2013, compared to RMB 73.8 million ($11.7 million) in the same period in 2012. Cash flow used in investing activities in the quarter ended March 31, 2013 was RMB 37.3 million ($6.0 million) mainly due to the acquisition of equipment, compared to RMB 0.1 million ($0.02 million) of cash flow generated from investing activities in the same period of 2012 due to interest received.

China Ceramics Co., Ltd., Q1 2013 Earnings Call, May 14, 2013

China Ceramics Co., Ltd. announced that they will report Q1, 2013 results on May 14, 2013