Wednesday, November 14, 2012, 10:37 AM
Shares of Sorl Auto Parts (SORL +7.5%) jumped out of the gate this morning after its Q3 bottom line easily beat estimates, despite a slowdown in original equipment sales. Net income fell 4.2% Y/Y as sluggish new vehicle sales in China challenge its core revenue stream. The company noted however that the aging Chinese vehicle market is giving a boost to its aftermarket parts sales, and it raises FY earnings estimates to around $11.5M on sales of $191.4M.
Comment![Earnings, Consumer, On the Move]
Wednesday, November 14, 2012, 6:12 AMSORL Auto Parts (SORL): Q3 EPS of $0.17 beats by $0.04. Revenue of $46.7M in-line. (PR)
Tuesday, August 14, 2012, 4:11 PM
SORL Auto Parts (SORL -5.8%) goes out near its lows after missing on its Q2 top line earlier today. Net earnings dropped 40% Y/Y amid weak car sales in China and abroad. The Chinese maker of brake systems for commercial vehicles also lowered its guidance for the year, now expecting FY12 revenue to come in around $198M, below Street estimates of $210M. It also lowers its net income guidance to $11.1M from $14.6M.
Comment![Earnings, On the Move]
Tuesday, August 14, 2012, 7:01 AMSORL Auto Parts (SORL): Q2 EPS of $0.16 misses by $0.02. Revenue of $52.1M (-14.7% Y/Y) in-line. (PR)
Tuesday, May 15, 2012, 6:32 AMSORL Auto Parts (SORL): Q1 EPS of $0.12 misses by $0.06. Revenue of $44.6M (-14% Y/Y) misses by $5M. (PR)
Thursday, March 29, 2012, 7:03 AMSorl Auto Parts (SORL): Q4 EPS of $0.17 misses by $0.05. Revenue of $56.1M (+2.4% Y/Y) misses by $1.5M. (PR)
Tuesday, September 13, 2011, 3:24 PM
SORL Auto Parts (SORL +2.8%) continues moving higher in the last hour of trading after saying earlier it's entered into an agreement with China's largest trucking manufacturer to supply braking valves and components.
Comment![On the Move]
Monday, August 15, 2011, 2:42 PM
Chinese parts supplier SORL Auto Parts (SORL -6.7%) drops after missing Q2 estimates and cutting its FY11 forecast. Revenue was down 12% on higher raw-material costs and slower domestic commercial vehicle sales.
Comment![Global & FX, On the Move]