L & L Energy, Inc. Announces Record Fiscal Year 2010 Unaudited Results

-- Management Also Projects Organic 2011 Revenues of $218M, Net Income of $46M, and EPS of $1.61, Exclusive of Potential Acquisitions

SEATTLE, July 15 /PRNewswire-FirstCall/ -- L & L Energy, Inc., (Nasdaq: LLEN) ("L&L" or the "Company"), a U.S.-based company operating coal businesses in China, today announced its unaudited financial results for the fiscal year ended April 30, 2010. The Company's Form 10-K annual report filing is extended pending completion of independent appraisal reports of its four mining-related acquisitions incurred during the fiscal year. The Company posted record annual revenue for the fiscal year of $109 million and record net income of $30 million, subject to final audit. The Company has scheduled a conference call today, July 15, 2010 at 4:10 p.m. Eastern time (1:10 p.m. Pacific) to discuss these unaudited financial results.

Fiscal Year 2010 Financial and Operating Highlights

(Pending Finalization of Audit)

Management believes that:

• Revenues generated in fiscal year 2010 increased to approximately $109 million, up from $41 million in 2009, representing a 166% increase.
• Operating income for fiscal year 2010 doubled to approximately $39 million, compared to $19 million in 2009
• Net income for fiscal year 2010 tripled to approximately $30 million, compared with $10 million in 2009
• Fully diluted earnings per share for fiscal year 2010 were approximately $1.17, up from 2009 EPS of $0.46.

Dickson Lee, Chairman and CEO of L & L, commented: "We are thrilled to report such dramatic growth in our fiscal year April 30, 2010 results.  We believe our financial performance in 2010 showcases the effectiveness of our aggressive growth strategy.  We have seen strong organic growth this year, coupled with an unprecedented number of successful acquisitions, which resulted in sales growth of 2 1/2 times.  The integration of these new additions into our existing operations will continue to benefit the Company. We will continue to look for other strategic actions to create the best possible value for our shareholders. We expect continued high demand for our products in the long-term, as approximately 80% of China's electricity generation is fueled by coal. We look forward to fiscal year 2011 with enthusiasm, and will share any new developments as they materialize."

Financial Outlook for Fiscal Year 2011

Management reaffirms previously stated guidance of $218 million in revenue and $46 million in net income for fiscal year 2011 ended April 30, 2011. These organic growth projections translate to EPS of $1.61 based on 29 million shares outstanding today. This does not include Company's potential acquisitions. Revenue and net income guidance projections for fiscal year 2011 represent year-over-year growth of 100% and 56%, respectively, from 2010.

Conference Call and Webcast

Management will host a conference call to discuss these financial results today, July 15, 2010 at 4:10 p.m. Eastern time (1:10 p.m. Pacific).

To participate in the call please dial (877) 941-8418 approximately 10 minutes prior to the scheduled start time. Interested parties can also listen via a live Internet webcast, which can be found at http://ViaVid.net.

About L & L Energy, Inc.

Founded in 1995 and headquartered in Seattle, L&L (http://www.LLEnergyInc.com) focuses on serving the vast energy needs of the Chinese market. L&L's China operations are headquartered in Kunming City of Yunnan Province, which operates three coal mines, three coal washing facilities, a coking facility, and a coal wholesale network in both Yunnan and Guizhou Provinces of China. Marketing offices are also located in Shenzhen and Guangzhou of Guangdou Province and Taipei, Taiwan.

Forward-Looking Statements

These statements may contain words that are not historical fact, including but not limited to, statements related to Company's future performance, and they are all "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, and involve a number of risks and uncertainties. Actual results of the future events described in this document could differ materially due to numerous factors and other made by the company filing with the Securities and Exchange Commission. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.

SOURCE L & L Energy, Inc.

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