China Power Equipment, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company recorded net revenues of $6.85 million compared with $7.26 million a year ago, which was primarily attributable to the lower average selling prices of the Company's amorphous alloy cores and transformers and the lower tonnage of amorphous alloy cores sold, partly offset by more units of amorphous alloy transformers sold. Net income from operations was $1,304,034 compared with $1,302,781 a year ago.

Net income before income taxes was $1,304,101 compared with $1,302,364 a year ago. Net income was $1,059,914 or $0.04 per diluted share compared with $1,042,360 or $0.04 per diluted share a year ago. Net cash provided by operating activities was $2,152,478 compared with $1,318,996 a year ago, which was primarily attributable to the net income plus noncash expenses including depreciation, amortization and stock-based compensation, then increased by favorable changes in working capital.

Addition in plant and equipment was $982 compared with $852 a year ago.