China Automotive Systems Reports Unaudited 2019 Third Quarter Results
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China Automotive Systems (CAAS) Tops Q3 EPS by 12c, Revenues Miss; Reaffirms FY19 Revenue Outlook
November 12, 2019 6:05 AM ESTChina Automotive Systems (NASDAQ: CAAS) reported Q3 EPS of $0.13, $0.12 better than the analyst estimate of $0.01. Revenue for the quarter came in at $100.5 million versus the consensus estimate of $104.41 million.
Third Quarter 2019 Highlights
Net sales were $100.5 million compared to $112.1 million in the third quarter of 2018;Gross profit increased to $17.3 million from $15.4 million, and the gross margin rose to 17.2% from 13.7% in the third quarter of 2018;Income from operations was $4.3 million, with an operating margin of 4.3%, compared with Income from operations of $1.8 million, or a 1.6% operating margin in the same quarter last... More