China Zenix Auto International Limited (ZX), a commercial vehicle wheel manufacturer in China, Friday said first-quarter declined from the year-ago quarter, amid lower revenues.
Profit and total comprehensive income for the first quarter declined to 42.62 million yuan ($6.9 million) from 135.32 million yuan in the same quarter of 2012.
Earnings per ordinary share and earnings per ADS were 0.21 yuan and 0.83 yuan, respectively. In the previous year, the company earned 0.66 yuan per share.
Revenue for the first quarter fell to 830.21 million yuan ($133.7 million) from 1.044 billion yuan, but was higher than the 800.1 million yuan generated in the fourth quarter of 2012.
Aftermarket sales in China declined 13.9 percent to 430.4 million yuan while sales to the Chinese OEM market decreased 29.1 percent to 269.4 million yuan.
Looking ahead, the management reiterated its revenue guidance for the year ending December 31, 2013 of around 3.8 billion yuan with profit and total comprehensive income of about 290 million yuan.
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