Thu, Mar. 26, 6:53 AM
- China Automotive Systems (NASDAQ:CAAS) reports sales rose 4.7% mainly due to the growth of the Chinese passenger vehicle market and the strong growth in sales of mid-level electric power steering units in Q4.
- Gross margin rate increased 40 bps to 17.7%, primarily due to greater sales volume.
- Selling expense rate grew 50 bps to 3.4%.
- Operating margin rate +30 bps to 6.9%.
- FY2015 Guidance: Revenue growth of 10% is forecast for the full year.
Thu, Mar. 26, 6:32 AM| Comment!
Nov. 12, 2014, 7:53 AM
- China Automotive Systems (NASDAQ:CAAS) picked up market share in Q3 as its sales growth more than doubled the rate in the industry.
- An expanded partnership with Chrysler was a factor in North America.
- Gross profit rate +200 bps to 20.2% on a higher mix of electric power steering sales.
- Selling expense rate +120 bps to 3.7%.
Nov. 12, 2014, 6:56 AM| Comment!
Aug. 13, 2014, 9:02 AM
- China Automotive Systems (NASDAQ:CAAS) reports bustling Q2 sales as demand for passenger cars in China soars and the company's partnership with Chrysler pays off.
- Gross margin rate -10 bps to 18.7%.
- Operating margin rate +630 bps to 14.3%
- Guidance: Revenue growth of 15% is forecast for the full year.
Aug. 13, 2014, 6:02 AM| Comment!
May. 14, 2014, 6:52 AM| Comment!
Nov. 13, 2013, 11:57 AM
- China Automotive Systems (CAAS +16.8%) shares jump on the company's Q3 results, which saw revenue grow 24.2% Y/Y to $90.9M.
- Gross profit expanded 32% to $16.5M, as margin expanded by 1.1% to 18.2%.
- Income from operations doubled Y/Y to $11M, with margin expanding by 4.6% to 12.1%.
- Management hiked full-year revenue growth guidance to 20% from 15%, implying revenue of $403.2M (vs. a lone analyst's expectations of $392.2M).
- The company continues to expand its market share, with its 24.2% growth rate in Q3 exceeding the 13.6% growth in China's automotive market during the period.
- PR, Conference call (transcript)
Nov. 13, 2013, 6:18 AM
Aug. 14, 2013, 6:38 AM
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May. 9, 2012, 6:38 AM
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