China Automotive Systems (CAAS) Reports Preliminary Q2 Results
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China Automotive Systems, Inc. (Nasdaq: CAAS) announced preliminary results for the second quarter of 2008, with revenue expected to be over US$52 million compared with US$36 million in the second quarter of 2007, reflecting over 43% year-over-year growth. In the 2008 second quarter, diluted earnings per share (EPS) are expected to be between $0.18 and $0.22, compared with second quarter 2007 diluted EPS of $0.10. (no estimates available)
The 2008 second quarter results were highlighted by solid performances across China Automotive Systems' business segments and strong cash flow from operations. China Automotive Systems has also renewed their contracts with all of its key customers.
China Automotive Systems, Inc. is a holding company with no significant business activities or assets other than its 100% interest in Great Genesis Holding Limited (Genesis). [SM]
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