China Auto Logistics (CALI) Reports Q3 Loss of $0.05
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
News and research before you hear about it on CNBC and others. Claim your 2-week free trial to StreetInsider Premium here.
China Auto Logistics (NASDAQ: CALI) reported Q3 EPS of ($0.05), versus ($0.09) reported last year. Revenue for the quarter came in at $96.29 million, versus $150.17 million reported last year.
Mr. Tong Shiping, Chairman and CEO of the Company, commented, "In the first half of the year, we took the necessary step with the sale of Zhonghe to strengthen our financial situation and thereby create a new base for moving forward in a still highly competitive imported luxury auto market. At the current time our focus is on further strengthening and building our Auto Sales business, where we may see new opportunities for growth possible as a consequence of our leadership position and the "Parallel Imported Vehicles" scheme that has begun to be implemented in Tianjin and a few other large cities. We believe, too, that the currency situation has stabilized."
He added, "While over the near term we will focus mainly on our core auto sales business, we also are considering other possible higher margin opportunities, as both our auto sales and financial services business can be expected to remain highly competitive, with the former, in particular, not leaving a lot of room for margin expansion."
For earnings history and earnings-related data on China Auto Logistics (CALI) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Sonoco (SON) Affirms FY16 Outlook; Guides FY17 EPS Below Views
- Culp, Inc. (CFI) Tops Q2 EPS by 1c
- Central Garden & Pet (CENT) Tops Q4 EPS by 8c; Guides FY17 EPS