China XD Plastics (CXDC) Reports Q1 EPS of $0.15; Reiterates Outlook

China XD Plastics (NASDAQ: CXDC) reported Q1 EPS of $0.15, versus $0.17 reported last year. Revenue for the quarter came in at $237.8 million, versus $215.03 million reported last year.

Financial Guidance and Business Outlook

The Company reiterates its financial guidance for fiscal 2017 with revenue to range between $1.2 billion and $1.3 billion, and net income to range between $85.0 million to $100.0 million. This is based on the anticipation of a continued recovery throughout the Chinese automotive supply chain and a stabilization of crude oil pricing and its impact on polymer composite materials in 2017. This forecast also assumes additional contributions from the Sichuan facility and that overseas sales will be resumed in the second half of 2017. It also assumes the average exchange rate of the US dollar to RMB at 6.8 and that the Company will incur interest expenses for loan term loans and short term loans. This financial guidance reflects the Company\'s preliminary view of its business outlook for the fiscal year of 2017 and is subject to revision based on changing market conditions at any time.

For earnings history and earnings-related data on China XD Plastics (CXDC) click here.

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