China Automotive Systems (CAAS) Misses Q4 EPS by 1c
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China Automotive Systems Reports Fourth Quarter and Fiscal 2016 Results
March 30, 2017 6:00 AM EDTWUHAN, China, March 30, 2017 /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 fourth quarter and the audited results for fiscal year ended December 31, 2016.
Fourth Quarter 2016 Highlights
Net sales were $149.6 million, up 24.6% from $120.1 million in the fourth quarter of 2015 Gross margin was 14.6% reflecting the impact of a charge for a projected $5 million product recall in 2016, versus 16.8% in the fourth quarter of 2015 Net income attributable... More