THT Heat Transfer Technology, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported sales revenue of $8,289,000 against $7,910,000 a year ago. Operating income was $669,000 against $708,000 a year ago. Income before income taxes was $566,000 against $396,000 a year ago. Net income attributable to the equity stockholders was $481,000 or $0.02 basic and diluted per share against $314,000 or $0.02 basic and diluted per share a year ago. Net cash used in operating activities was $1,903,000 against $2,621,000 a year ago. The increase was primarily attributable to higher sales revenue from heat exchange units and shell-and-tube heat exchangers. The increase in income before income tax was mainly due to a decrease in its total expenses. The increase in net income attributable to common shareholders was due to the cumulative effect of the foregoing factors. Net cash used in operating activities was $1.9 million compared with $2.6 million for the same period of 2013. The decrease in net cash used in operating activities was mainly attributable to (1) increased net income; (2) less increase of other receivables, prepayments and deposits; (3) less money used to purchase inventory (4) more decrease of trade payables, other payables and accrued expenses and (5) less decrease of receivables.

The company provided sales guidance for the second quarter of 2014. For the quarter, the company expects to generate sales revenue in the range of $12 million to $14 million in the second quarter of 2014, compared with $10.9 million in the same period of 2013. This represents the company's preliminary view, and is subject to change.