SinoCoking Coal and Coke Chemical Industries, Inc. announced unaudited consolidated earnings results for the first quarter ended September 30, 2014. For the quarter, the company reported income from operations of $1,359,383 on revenue of $13,573,836 compared to income from operations of $2,452,846 on revenue of $17,475,970 for the same period a year ago. Loss before income taxes was $2,063,404 against income before income taxes of $1,794,641 a year ago.

Net loss was $2,553,257 against net income of $1,160,884 a year ago. Basic and diluted loss per share was $0.12 against basic and diluted earnings per share of $0.05 a year ago. Net cash used in operating activities was $1,384,668 against $565,804 a year ago.

Payments of construction in progress and equipment were $7,026,661. The decrease in quarterly revenue compared to the same period last year resulted primarily from the slowdown in sales of most of the company's traditional products including coke, washed coal, coke power, coke tar, coal slurry and mid coal. This slowdown was caused by continued softness in the Chinese construction market, which affected demand for steel and its constituents, coal and coke.