China Automotive Systems Inc Announces Fall In Q3 Profit

China Automotive Systems Inc (CAAS) revealed a profit for third quarter that fell from last year.

The company’s bottom line came in at $0.38 million, or $0.01 per share. This compares with $5.06 million, or $0.16 per share, in last year’s third quarter.

Analysts had expected the company to earn $0.00 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter fell 5.3% to $112.08 million from $118.37 million last year.

China Automotive Systems Inc earnings at a glance:

-Earnings (Q3): $0.38 Mln. vs. $5.06 Mln. last year.
-EPS (Q3): $0.01 vs. $0.16 last year.
-Analysts Estimate: $0.00
-Revenue (Q3): $112.08 Mln vs. $118.37 Mln last year.

-Guidance:
Full year revenue guidance: $510 – $520 Mln

Source: Read Full Article