- SORL Auto Parts (SORL -21%) tumbles after the company says higher distribution expenses cut into profitability.
- Selling and distribution expenses were up 350 bps to 13.2% of sales.
- Management pointed to higher freight, packaging and compensation costs during the quarter.
- Looking ahead, SORL sees 2018 sales of $450M vs. $391M in 2017 and net income of $28M vs. $24M a year ago.
- Previously: More on SORL Auto Parts' Q4 results (April 2)