Labrador Iron Ore Royalty Corporation reported unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported royalty income amounted to CAD 22.0 million as compared to CAD 30.3 million for the first quarter of 2011. The unit holders cash flow from operating activities after adjustments for changes in amounts receivable, accounts payable and income taxes payable (adjusted cash flow) was CAD 14.4 million or CAD 0.23 per unit as compared to CAD 48.0 million or CAD 0.75 per unit for the same period in 2011. Revenue was CAD 22.4 million against CAD 30.7 million for the same period a year ago. Income before equity earnings and income taxes was CAD 8.45 million against CAD 15.57 million for the same period a year ago. Income before income taxes was CAD 19.66 million against CAD 34.82 million for the same period a year ago. Cash flow from operating activities was CAD 16.83 million against CAD 14.72 million for the same period a year ago. Net income was CAD 15.53 million or CAD 0.24 per unit compared to CAD 31.43 million or CAD 0.49 per unit for the same period in 2011. The company expects that royalty revenue should increase for the balance of the year 2012.