Sorl Auto Parts (SORL) Reports Q4 Revenues Above Estimates; Offers FY18 Revenue Outlook Above Consensus

Note: EPS may not be comparable

Sorl Auto Parts (NASDAQ: SORL) reported Q4 EPS of $0.15, versus $0.47 reported last year. Revenue for the quarter came in at $123 million versus the consensus estimate of $103.59 million.

Fourth Quarter 2017 Financial Highlights

• Net sales for the 2017 fourth quarter rose 43.4% to $123.0 million from $85.5 million in the 2016 fourth quarter;
• Revenues from the domestic OEM segment climbed 73.3% to $38.3 million from $22.1 million in the fourth quarter of 2016;
• Revenues from China\'s domestic aftermarket increased 29.6% to $66.1 million, from $51.0 million in the fourth quarter of 2016;
• Revenues from international markets grew 46.5% to $18.6 million, from $12.7 million in the fourth quarter of 2016;
• Gross profit climbed 63.6% and gross margin increased to 25.5% from 22.3%.
• Net income attributable to stockholders for the fourth quarter of 2017 was $2.9 million, or $0.15 per basic and diluted share, compared with $8.3 million, or $0.43 per basic and diluted share a year ago.

GUIDANCE:

Sorl Auto Parts sees FY2018 revenue of $450 million, versus the consensus of $393.86 million.

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

You May Also Be Interested In

• Blackhawk Network (HAWK) Reports Q2 Loss of $0.07; Offers Guidance
• MapLight Therapeutics, Inc. (MPLT) Misses Q2 EPS by 33c
• Innovaro (INV) Misses Q2 EPS by 9c