China Automotive Systems (CAAS) Tops Q3 EPS by 6c
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China Automotive Systems Reports Higher Net Sales and Profit in the 2016 Third Quarter
November 10, 2016 6:30 AM ESTWUHAN, China, Nov. 10, 2016 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the third quarter and nine months ended September 30, 2016.
Third Quarter 2016 Highlights
Net sales increased 4.2% to $94.6 million, compared to $90.8 million in the third quarter of 2015; Gross margin increased to 21.1% compared to 17.5% in the third quarter of 2015; Net income attributable to parent company's common shareholders was $5.7 million, or diluted earnings per share of $0.18,... More