Sorl Auto Parts (SORL) Tops Q1 EPS by 24c

Sorl Auto Parts (NASDAQ: SORL) reported Q1 EPS of $0.43, $0.24 better than the analyst estimate of $0.19. Revenue for the quarter came in at $107.7 million versus the consensus estimate of $86.96 million.

Mr. Xiaoping Zhang, SORL's Chief Executive Officer and Chairman, stated, "We are pleased to report strong sales growth across the board in the first quarter of 2018. We have been consistently outperforming the commercial vehicle market in China as our advanced products with high technology content continue to capture market shares. Our sales growth combined with strict cost controls and higher efficiency in our new production has created earnings growth as well."

Business Outlook

Management has reiterated its fiscal year 2018 guidance for net sales of $450 million and net income attributable to common stockholders of $28 million. These targets are based on the Company's current views on the operating and market conditions, which are subject to change.

"Our growing broad line of advanced products with their higher performance and reliability is providing the growth stimulus to enhance our market position in key markets. We are now better positioned in our markets than any time in our history," stated Ms. Jinrui Yu, SORL's Chief Operating Officer.

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

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