Sorl Auto Parts (SORL) Reports Q1 EPS of 2c

Sorl Auto Parts (NASDAQ: SORL) reported Q1 EPS of $0.02, $0.12 worse than the analyst estimate of $0.14. Revenue for the quarter came in at $53.8 million versus the consensus estimate of $53.06 million.

Business Outlook

For the fiscal year 2016, management reiterates that it expects net sales to be approximately $200 million and net income to be approximately $11.5 million. These targets are based on the Company's current views on the operating and market conditions, which are subject to change.

"The growth in the overall commercial vehicle business and especially the important heavy-duty truck segment, provides optimism for the future. We are adding more advanced braking products to provide more solutions to fulfill our customers' needs and attract more customers. With our new facility, we are adding capacity and the ability to better control our costs," Ms. Jinrui Yu, SORL's Chief Operating Officer, stated.

For earnings history and earnings-related data on Sorl Auto Parts (SORL) click here.

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