China Power Equipment, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company's net revenue was $7.3 million compared with $7.7 million a year ago, primarily attributable to lower average selling prices of amorphous alloy cores and transformers and lower sales of amorphous alloy transformers, partly offset by higher tonnage of amorphous alloy cores sold. Net income from operations was $1.3 million compared with $1.4 million a year ago. Net income before income taxes was $1.3 million compared with $1.4 million a year ago. Net income was $1.0 million or $0.04 per diluted share compared with $1.1 million or $0.05 per diluted share a year ago, primarily attributable to higher SG&A expenses. Net cash provided by operating activities was $1.3 million compared with $1.2 million a year ago, primarily attributable to the net income plus noncash expenses including depreciation, amortization and stock-based compensation, partially offset by cash used for working capital needs. Addition in plant and equipment was $0.85 million compared with $2.1 million a year ago.