Guanwei Recycling Corp. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. Net revenues in the first quarter ended March 31, 2013 were $14,839,806. This figure included $14,512,749 in sales of manufactured recycled LDPE and sales of sorted non-LDPE material of $327,057 in what typically is a slow quarter. In comparison, in the 2012 first quarter, manufactured recycled LDPE sales were $14,044,642. However, the Company's net revenues in the 2012 first quarter were $16,171,490, which included $1,689,081 in low margin raw material sales which did not take place in the 2013 first quarter. Net income in the first quarter of 2013 increased 14.53% to $2,365,393 or $0.23 per basic and diluted share, compared with $2,065,256, or $0.21 per basic and diluted share in the same quarter last year. Income from operations was $3,123,748 against $2,806,994 a year ago period. Income before income taxes was $3,196,412 against $2,853,092 a year ago period. Net cash provided by operating activities was $1,424,940 against net cash used in operating activities of $2,570,172 a year ago period. Purchase of property, plant and equipment was $256,362 against $12,727 a year ago period.

Guanwei Recycling Corp. announced that they will report Q1, 2013 results at 9:37 PM, GMT Standard Time on May 15, 2013

Guanwei Recycling Corp., Q1 2013 Earnings Call, May 16, 2013