SORL Auto Parts, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2012. For the quarter, the company reported net sales were $44.598 million versus $51.992 million for the fourth quarter of 2010. Operating income was $3.325 million compared with $6.107 million for the same quarter last year. Net income attributable to stockholders was $2.333 million or $0.12 per basic and diluted share compared to $4.854 million or $0.25 per basic and diluted share a year ago. Income before provision for income taxes was $3.616 million against $6.304 million a year ago. Net cash flows from operating activities were $4.319 million against $8.345 million a year ago. Acquisition of property and equipment was $0.367 million against $2.987 million a year ago. The sales decrease, which reflected China's macroeconomic climate, was primarily due to the 11.4% decline in production of OEM commercial vehicles and the 32.0% decline of heavy-duty truck production, as compared with the first quarter in 2011. The reduced operating income reflects lower sales and gross profit, and primarily higher administrative expenses. For the second quarter of fiscal year 2012, the company expects net sales to be approximately $225 million and net income to be approximately $14.6 million. These targets are based on the company's current views on the operating and market conditions, which are subject to change.