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China Automotive Systems Reduces Revenue Guidance - Quick Facts


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(RTTNews.com) - China Automotive Systems, Inc. ( CAAS ) announced it reduced revenue guidance for the full year 2018 to $510 million from $520.0 million. The company said the target is based on the current views on operating and market conditions, which are subject to change.

In the third quarter of 2018, net sales were $112.1 million compared to $118.4 million in the same quarter of 2017. The company said the decrease in net product sales was mainly due to a change in the product mix and lower domestic sales volume due to softer demand in the Chinese domestic brand automobile market. Diluted earnings per share were $0.01 in the third quarter of 2018, compared to diluted earnings per share of $0.16 in the third quarter of 2017.


Read the original article on RTTNews (http://www.rttnews.com/2953771/china-automotive-systems-reduces-revenue-guidance-quick-facts.aspx)


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This article appears in: World Markets , Stocks
Referenced Symbols: CAAS



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