China Automotive (CAAS) Trades Higher Amid FY12 Sales Warning
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Price: $5.39 -2.53%
EPS Growth %: -100.0%
Financial Fact:
General and administrative expenses: 4.13M
Today's EPS Names:
NED, OESX, WSTL, More
EPS Growth %: -100.0%
Financial Fact:
General and administrative expenses: 4.13M
Today's EPS Names:
NED, OESX, WSTL, More
Trade CAAS Now!
China Automotive Systems (Nasdaq: CAAS) is makng an unusual move Thursday, following its second-quarter 2012 results.
Though Q2 EPS topped expectations by nine cents, at 21 cents total, China Auto issued some dire expectations. According to the release:
"Due to a significant slacking of demand for automotive vehicles in the People's Republic of China, management has lowered its guidance and now expects annual revenues to be even with that of year 2011. This target is based on the Company´s current views on operating and market conditions, which are subject to change."
For a refresher, China Auto revs in 2011 were $345.9 million. Currently, the Street is modeling $378.9 million, meaning expectations are now 8.7 percent too high.
Shares are up 3.6 percent in early trading.
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Though Q2 EPS topped expectations by nine cents, at 21 cents total, China Auto issued some dire expectations. According to the release:
"Due to a significant slacking of demand for automotive vehicles in the People's Republic of China, management has lowered its guidance and now expects annual revenues to be even with that of year 2011. This target is based on the Company´s current views on operating and market conditions, which are subject to change."
For a refresher, China Auto revs in 2011 were $345.9 million. Currently, the Street is modeling $378.9 million, meaning expectations are now 8.7 percent too high.
Shares are up 3.6 percent in early trading.
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