China Automotive Systems (CAAS) Tops Q1 EPS by 14c, Revenues Beat
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China Automotive Systems Reports 2020 First Quarter Results
June 23, 2020 6:00 AM EDTWUHAN, China, June 23, 2020 /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, 2020.
First Quarter 2020 Highlights
Net sales decreased 32.6% to $73.6 million from $109.2 million in the first quarter of 2019 primarily due to the impact of the COVID-19 pandemic lockdown in China Net sales of electric power steering ("EPS") products declined 63.5% to $8.1Â million from $22.2 million in the first quarter of... More