More on SORL Auto Parts' Q3 results

|About: SORL Auto Parts, Inc. (SORL)|By:, SA News Editor

SORL Auto (NASDAQ:SORL) reports Domestic OEM customers sales rose 70.6% to $50.5M in Q3.

China's domestic aftermarket sales grew 76% to $31.5M .

International sales expanded 19.1% to $19.3M, mainly due to the Company's growing global customer base.

Commercial vehicle brake sales increased 62.5% to $85.3M.

Gross margin rate down 280 bps to 26.9%, primarily due to higher raw materials costs and price promotions.

FY2017 Guidance: Net sales: ~$370M; Net income: ~$30.5M.

SORL +36.89% premarket.