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Lihua International Announces Preliminary Unaudited 2010 Financial Results

China Feb. 22, 2011 Lihua International, Inc. December 31, 2010

Preliminary Full-Year 2010 Results:

December 31, 2010 $370.5 million $161.5 million

$62.1 million $36.2 million $57.0 – $60.0 million

$40.6 million $13.7 million

$40.0 million $25.6 million December 31, 2010 $0.9 million $0.3 million April 2010 $11.9 million $38.1 – $40.3 million

Jianhua Zhu

July 2010

December 31, 2010 March 9, 2011

2011 Guidance

$80.0 million to $82.0 million $52.0 million to $54.0 million China

About Non-GAAP Financial Measures

The Company uses non-GAAP net income and other non-GAAP metrics such as EBITDA to provide information about its operating trends.  Investors are cautioned that non-GAAP net income and EBITDA are not measures of liquidity or of financial performance under Generally Accepted Accounting Principles ("GAAP").


Non-GAAP Net Income Calculation

For Fiscal Year Ended December 31,

($s in millions)



Net Income

$                40.6

$                13.7

Change in Fair Value of Warrants



Gain on Extinguishment of Warrants


One Time Offering Expenses


 Non-GAAP Net Income

$                40.0

$                25.6

About Lihua International, Inc.

Lihua Copper China China China China Jiangsu Province

[email protected]

Safe Harbor Statement

This press release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including, without limitation, statements about its business or growth strategy, general industry conditions including availability of copper or recycled scrap copper, future operating results of the Company, capital expenditures, expansion and growth opportunities, bank borrowings, financing activities and other such matters, are forward-looking statements. Although the Company believes that its expectations stated in this press release are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements.

Please note that information in this press release reflects management views as of the date of issuance.


Lihua International, Inc.

Daphne Huang

EVP of Corporate Finance and Director of Investor Relations

(516) 717-9939

[email protected]

The Piacente Group, Inc.

Investor Relations

Brandi Floberg or Lee Roth

(212) 481-2050

[email protected]

SOURCE Lihua International, Inc.

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