China Automotive Systems Q1 Profit Flat; Reiterates FY Revenue Guidance

(RTTNews) - China Automotive Systems Inc. (CAAS) reported that its net income attributable to parent company's common shareholders for the first quarter of 2017 was $5.714 million compared to $5.709 million in the prior year. Earnings per share were $0.18 in the first quarter of 2017 and 2016.

Quarterly net sales were $119.3 million, compared to $116.9 million in the same quarter of 2016, reflecting a 2.1% year-over-year growth. The increase of net sales was mainly due to the increased sales volume. 

The company reiterated its revenue guidance for the full year 2017 of US$485 million.