China Carbon Graphite Group, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, sales were $10,061,210 compared to $11,463,335 for the same period a year ago. Operating income before other income was $1,962,403 compared to $929,547 for the same period a year ago. Net income was $253,117 compared to $333,049 for the same period a year ago. Net income available to common shareholders was $248,099 or $0.01 per basic and diluted share compared to $333,049 or $0.02 per basic share or $0.01 per diluted share for the same period a year ago. Net cash used in operating activities was $7,852,196 compared to $4,450,727 for the same period a year ago. Acquisition of property and equipment was $15,831 compared to $4,572 for the same period a year ago. Construction in progress was $651,528 compared to $1,554,319 for the same period a year ago. EBIDTA was $2.29 million compared to $2.52 million for the same period a year ago. Adjusted net income was $0.91 million compared to $0.63 million for the same period a year ago. Adjusted EPS was $0.04 compared to $0.03 for the same period a year ago. Decrease in sales was mainly attributable to a decrease of $654,030 in the sales of the company's low-end graphite electrodes products, as well as a $223,034 decrease in sales of the company's other products, during first quarter of 2012, which is a reflection of the company's decision to focus on the manufacturing and selling of its higher margin products.