China Automotive Systems (CAAS) Tops Q2 EPS by 14c
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China Automotive Systems Reports 2017 Second Quarter Unaudited Financial Results
August 10, 2017 6:00 AM EDTWUHAN, China, Aug. 10, 2017 /PRNewswire/ -- China Automotive Systems, Inc. ("CAAS" or the "Company") (NASDAQ: CAAS), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the second quarter and six months ended June 30, 2017.
Second Quarter 2017 Highlights
Net sales increased 16.5% to $117.7 million from $101.0 million in the second quarter of 2016; Gross profit rose 32.6% to $24.1 million and the gross margin increased to 20.4% from 18.0% in the second quarter of 2016;Â Income from operations increased by 109.8% to $11.1 million with an operating margin of... More