China Auto Logistics (CALI) Reports Q2 Loss of $0.08 on Revenues of $138.8M

China Auto Logistics (NASDAQ: CALI) reported Q2 EPS of ($0.08). Revenue for the quarter came in at $138.76 million, versus $0 reported last year.

Financial Highlights for the Second Quarter ended June 30, 2017

• Net revenue in the 2017 second quarter increased 48% to $138,758,902 from $93,819,385 in the second quarter of 2016.
• The net loss from continuing operations attributable to shareholders in the 2017 second quarter improved from $477,875, or a $0.12 loss per share a year earlier, to $342,109 or a loss per share of $0.08. The net income from discontinued operations attributable to shareholders was $0 in the 2017 second quarter compared to $5,664,104 or earnings per share of $1.40 in the 2016 second quarter.
• Net revenues from Sales of Automobiles increased 48.63% year over year to $137,892,079 while sales volume also grew. Average unit selling prices declined, however, largely due to the impacts triggered by an additional 10% tax imposed on "super luxury cars," which typically are the most profitable autos sold by the Company.
• Net revenues for Financing Services in the 2017 second quarter decreased year over year 16.17% to $861,173. The decrease included a year over year decline in fee income of 37.74% to $294,188, mainly reflecting increased competition.

For earnings history and earnings-related data on China Auto Logistics (CALI) click here.

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