China Gerui Advanced Materials Group Ltd. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company's revenue was $63,889,524 against $91,937,463 a year ago. Operating income was $655,680 against $23,949,338 a year ago. Loss before income tax was $169,477 against income of $23,610,612 a year ago. Net loss was $534,383 against income of $18,191,597 a year ago. Basic and diluted loss per share was $0.01 against income of $0.32 a year ago. The decrease in revenue was primarily due to an 18% decrease in the Company's average selling price to $778 per ton for the fourth quarter of 2012 as compared to an average selling price of $949 for the fourth quarter of 2011 as well as a 14.9% decrease in sales volume to approximately 81,200 tons for the fourth quarter of 2012 as compared to approximately 95,400 tons for the same quarter of 2011.

For the year, the company's revenue was $265,486,082 against $341,778,295 a year ago. Operating income was $42,330,509 against $83,536,967 a year ago. Income before income tax was $38,030,261 against $79,582,179 a year ago. Net income was $26,133,088 against $57,620,552 a year ago. Basic and diluted income per share was $0.45 against $1.02 a year ago. Net cash used in operating activities was $2,101,972 against net cash from operating activities was $56,248,127 a year ago. Cash paid for property, plant and equipment was $30,561,916 against $29,816,858 a year ago.

Given current market conditions and the volatility of raw material costs, the company is providing full year 2013 revenue guidance in the range of $280 million to $290 million.