China Automotive Systems (CAAS) Tops Q1 EPS by 3c, Revenues Miss; Affirms FY19 Revenue Guidance
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China Automotive Systems Reports 2019 First Quarter Results
May 9, 2019 6:15 AM EDTWUHAN, China, May 9, 2019 /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 first quarter ended March 31, 2019.
First Quarter 2019 Highlights
Net sales decreased 18.5% to $109.2 million from $134.0 million in the first quarter of 2018 Net sales of electric power steering ("EPS") products were $22.2 million, a 11.2% decrease year-over-year Net income attributable to parent company's common shareholders was $1.5 million, or diluted earnings per share of $0.05,... More