China Automotive Systems (CAAS) Misses Q1 EPS by 1c, Offers FY22 Revenue Guidance
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China Automotive Systems Reports Unaudited 2022 First Quarter
May 23, 2022 6:00 AM EDTWUHAN, China, May 23, 2022 /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, 2022.
First Quarter 2022 Highlights
Net sales increased by 4.7% to $136.4 million from $130.3 million in the first quarter of 2021 Gross profit was $14.7 million with a gross margin of 10.8%, compared with $19.7 million and a 15.1% gross margin in the first quarter last year Loss from operations was $1.5 million compared with... More