Liuyang Fireworks Limited announced consolidated financial results for its second quarter and six months ended December 31, 2012. For the quarter, the company reported revenue of CAD 5.565 million against CAD 5.974 million a year ago. EBITDA was CAD 0.406 million against CAD 0.511 million a year ago. Net income was CAD 0.230 million or CAD 0.003 per diluted share against net income of CAD 0.280 million or CAD 0.004 per diluted share a year ago. The decrease in revenue was mainly attributable to a CAD 0.82 million decrease in U.S. revenue, which was partially offset by a CAD 0.42 million improvement in domestic revenue. The decrease in EBITDA is mainly due to lower net income and interest expense recognized in the second quarter of fiscal 2013. EBITDA before stock-based compensation was CAD 0.413 million against CAD 0.601 million a year ago. For the six months, the company reported revenue of CAD 9.634 million against CAD 9.901 million a year ago. EBITDA was CAD 0.833 million against CAD 0.757 million a year ago. Net income was CAD 0.388 million or CAD 0.006 per diluted share against net income of CAD 0.372 million or CAD 0.005 per diluted share a year ago. EBITDA before stock-based compensation was CAD 0.858 million against CAD 1.057 million a year ago.

Liuyang Fireworks Limited reported consolidated earnings results for the first quarter ended September 30, 2012. For the quarter, the company's revenue was CAD 4,068,000 compared to CAD 3,927,000 a year ago. The unusually high concentration of international sales was the result of a decision to delay European order production schedules to the first quarter due to wetter than usual weather conditions during the spring months. EBITDA was CAD 300,000 compared to CAD 246,000 a year ago. The increase was primarily attributable to a CAD 163,000 reduction in general and administrative expenses, which more than offset the lower gross profit for the quarter. EBITDA before stock-based compensation was CAD 318,000 compared to CAD 456,000 a year ago. Net income was CAD 159,000 or CAD 0.002 per diluted share compared to CAD 92,000 or CAD 0.001 per diluted share a year ago. The company continues to expect improvement in domestic sales both in term of volume and price in the 2013 spring festival sales season. The primary reason for this is the success of the plan to expand the domestic sales network.

Liuyang Fireworks Limited reported consolidated earnings results for the year ended June 30, 2012. For the period, the company's revenue was $19,805,000 against $15,707,000 a year ago. EBITDA was $1,537,000 against $1,328,000 a year ago. Net income was $655,000 or $0.003 diluted per share against $886,000 or $0.017 diluted per share a year ago.