Wowjoint Holdings Limited Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Provides Revenue Guidance for the Third Quarter of 2012
For the six months, the company reported total sales of $2.548 million compared to $15.032 million a year ago. Loss from operations was $1.887 million compared to income from operations of $1.861 million a year ago. Loss before income taxes was $1.265 million compared to income before income taxes of $1.780 million a year ago. Net loss attributed to ordinary shareholders was $1.265 million compared to net income attributed to ordinary shareholders of $1.314 million a year ago. Basic and diluted LPS was 0.16 compared to basic and diluted EPS of $0.17 a year ago. Net cash used in operating activities was $1.155 million compared to net cash provided by operating activities of $1.293 million a year ago. Purchase of property, plant and equipment was $1.021 million compared to $3.925 million a year ago.
For the third quarter of 2012, management anticipates total revenue in the range of approximately $1 million to $2 million.