THT Heat Transfer Technology, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company's sales revenue was $11.4 million compared with $14.1 million a year ago. The decrease was primarily attributable to lower sales revenue from shell-and-tube heat exchangers, heat exchange units and plate heat exchangers. Operating income was $0.84 million compared with $3.3 million a year ago. Income before income taxes was $0.68 million compared with $3.1 million a year ago. Net income attributable to the equity stockholders was $0.56 million or $0.03 per basic and diluted share compared with $2.7 million or $0.13 per basic and diluted share a year ago. Net cash used in operating activities was $5.2 million compared with $6.5 million a year ago. Net cash used in operating activities during the first three months of 2012 decreased compared to the same the period in 2011, largely due to relatively high collections from trade customers during the first quarter 2012, as well as reduced credit sales granted to customers due to lower turnover during the quarter. The company expects to generate sales revenue in the range of $10 million to $12 million in the second quarter of 2012, compared with $14.18 million in the same period of 2011.