China Automotive Systems up on preliminary Q2 results
Rating:
China Automotive Systems Inc. (Nasdaq:CAAS) rose 8% Monday after announcing its preliminary second-quarter earnings. The China-based company said it expects second-quarter revenue to be $52 million, compared with $36 million in same quarter a year ago. Earnings per share are expected to be between $0.18 and $0.22, compared with $0.10 per share a year ago. The company said its profit was due to strong cash flow from operations and renewed contracts with key customers. At midday Monday, shares of China Automotive Systems were at $5.94, about $0.42 or 7.6% over Friday’s close.
For access to the full article, you must be a registered member - it's FREE.
Already a member? Please log in below
Not Registered?
Register today and enjoy all that SmallCapInvestor.com has to offer, including:
- Daily small cap stock profiles.
- Intra-day coverage of Russell 2000 companies.
- Research and insights from our analysts.
- Special reports.
