Sino Clean Energy, Inc. Announces Third Quarter 2010 Revenue of $24.9 million and Adjusted EPS of $0.35

Q3 2010 revenues increased 128.8% to $24.9 million; adjusted net income increased 140.4% to $6.6 million, with adjusted EPS of $0.35
Q3 2010 gross margins increased 130 bps year-over-year to 38.7%
Company generated $21.3 million operating cash flow for the first nine months of 2010
Company reaffirmed full year 2010 guidance and expects revenues of at least $105 million and adjusted net income of at least $25 million
Management to host Earnings Conference Call on November 12, 2010 at 9:00 am ET
XI'AN, China, November 12, 2010 -- Sino Clean Energy Inc. (Nasdaq: SCEI) ("Sino Clean Energy," or the "Company"), a leading producer and distributor of coal-water slurry fuel ("CWSF") in the People's Republic of China ("China"), today announced the Company's unaudited financial results for the third quarter of 2010.

Third Quarter 2010 Results
$24.9 million
$10.9 million
Gross Profit
$9.6 million
$4.1 million
Adjusted Net Income
$6.6 million (1)
$2.7 million (2)
GAAP Net Income (loss)
$5.6 million
($30.9) million
Adjusted EPS
GAAP EPS (Diluted)
(1) Excludes non-cash gain of $1.0 million for the changes in fair value of warrants.
(2) Excludes $25 million non-cash cost for private placement, non-cash gain of $2.4 million related to extinguishment of derivative liability, non-cash charges of $7.0 million for the changes in fair value of warrants, $3.1 million non-cash amortization of notes discount and $1.1 million expenses related to the shares of common stock placed in escrow in connection with the Company's September 2008 financing.

The following information was filed by Sino Clean Energy Inc (SCEI) on Friday, November 12, 2010 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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