China Automotive Systems Reports 2020 Second Quarter Unaudited Financial Results
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China Automotive Systems (CAAS) Misses Q2 EPS by 9c, Revenues Miss
August 14, 2020 6:03 AM EDTChina Automotive Systems (NASDAQ: CAAS) reported Q2 EPS of ($0.13), $0.09 worse than the analyst estimate of ($0.04). Revenue for the quarter came in at $83.2 million versus the consensus estimate of $87.03 million.
Second Quarter 2020 Highlights
Net sales were $83.2 million as compared to $105.7 million in the second quarter of 2019;Gross profit was $7.8 million and the gross margin decreased to 9.4% from 14.4% in the second quarter of 2019;Loss from operations was $5.2 million compared with income from operations of $2.6 million in the second quarter of 2019;Net loss attributable to parent company's common shareholders was $4.1... More