L & L Energy Inc a US based company operating coal businesses in China announced its financial results for the second fiscal quarter ended October 31 2011. The Company generated USD 41.9 million in sales for the second quarter and net income totaled USD 5.25 million.

1. Revenues were USD 41.9 million up 14% from the first quarter

2. Net income was USD 5.25 million up 70% from the first quarter

3. Gross profit was USD 12.4 million, up 51% from the first quarter

4. Earnings per share was USD 0.11 per diluted share, up 38% from the first quarter

Mr Ian Robinson CFO stated that "Our earnings and revenues have seen improvements from our first quarter as a result of our mining operations beginning to ramp up production in accordance with the changing regulatory environment. Although second quarter results have improved, we are still seeing the effects of intermittent temporary slowdown and idling of all mines in our region by the government."

Mr Dickson Lee Chairman and CEO said "I expect a challenging environment for our current operations to continue throughout the course of the consolidation process. However, we have positioned ourselves very well to benefit from the consolidation in the long run with the support we have received from the government and local banks. Additionally we are bolstering up our operations in Guizhou with the addition of new wholesale operations. This will increase our visibility throughout the region and create a strong revenue base."

He said "This past year has been challenging. The capital markets have also caused us to slow our acquisition plans, but as the business cycle turns, L&L will be well positioned to take advantage of this tremendous growth opportunity in Guizhou."