Wonder Auto Technology falls 10% after worse-than-expected Q1 profit
Wonder Auto Technology, Inc. (Nasdaq:WATG) shares are slipping 10% after the China-based maker of auto parts reported first-quarter earnings of $4 million, or $0.15 per share, which missed Wall Street’s earnings expectation of $0.16 a share. The firm’s year-ago earnings were $2.7 million, or $0.11 per share. Quarterly revenue bumped up 44% to $31.1 million from $21.6 million a year earlier. Wall Street was looking for $30.5 million.
In Wednesday morning trading, WATG shares are falling 10.14%, or $0.94, at $8.33. For detailed price information and recent news stories about Wonder Auto Technology, click WATG.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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