Fuling Global Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2016
Fuling Global Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported revenues were $20,577,819 compared to $20,638,516 a year ago. Income from operations was $1,090,375 compared to $1,345,561 a year ago. Income before income taxes was $1,033,614 compared to $1,369,205 a year ago. Net income attributable to company was $749,699 or $0.05 basic and diluted per share compared to $1,237,983 or $0.11 basic and diluted per share a year ago. Net cash used in operating activities was $2,666,119 compared to $2,847,564 a year ago. Purchase of property and equipment was $1,207,431 compared to $248,933 a year ago.