Lihua International updates preliminary 2010 GAAP and non-GAAP net income.

Lihua International Inc (Lihua) has announced that based on the treatment of non-cash items following completion of its year ended Dec 2010 audit, the company expects full-year 2010 GAAP net income of $38.5 M and non-GAAP net income of $40.1 M, representing year-over-year increases of 181% and 57%, respectively. On 22 Feb 2011, Lihua announced preliminary 2010 unaudited GAAP and non-GAAP net income of $40.6 M and $40 M, respectively. These preliminary results assumed non-cash gains of $0.4 M and $0.5 M related to the extinguishment of warrants and change in fair value of warrants. As previously announced, for 2010 …