China Automotive Systems (CAAS) Reports Q3 EPS of $0.01, Revenues Miss; Lowers FY18 Revenue Guidance
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China Automotive Systems Reports Unaudited 2018 Third Quarter Results
November 9, 2018 6:00 AM ESTWUHAN, China, Nov. 9, 2018 /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, 2018.
Third Quarter 2018 Highlights
Net sales were $112.1 million compared to $118.4 million in the third quarter of 2017; Gross margin decreased to $15.4 million from $22.5 million, and the gross margin declined to 13.7% from 19.0% in the third quarter of 2017; Income from operations was $1.8 million, with an operating... More