BEIJING (dpa-AFX) - China Automotive Systems Inc (CAAS) released a profit for first quarter that declined from the same period last year.
The company's bottom line came in at $1.47 million, or $0.05 per share. This compares with $4.31 million, or $0.14 per share, in last year's first quarter.
Analysts had expected the company to earn $0.02 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 18.5% to $109.19 million from $134.02 million last year.
China Automotive Systems Inc earnings at a glance:
-Earnings (Q1): $1.47 Mln. vs. $4.31 Mln. last year. -EPS (Q1): $0.05 vs. $0.14 last year. -Analysts Estimate: $0.02 -Revenue (Q1): $109.19 Mln vs. $134.02 Mln last year.
-Guidance: Full year revenue guidance: US$510 Mln
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