China Automotive Systems Inc Announces 61% Advance In Q2 Earnings

China Automotive Systems Inc (CAAS) reported a profit for its second quarter that gained ground from last year.

The company said its bottom line came in at $8.88 million, or $0.28 per share. This was up from $5.52 million, or $0.17 per share, in last year's second quarter.

Analysts had expected the company to earn $0.14 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 16.5% to $117.66 million. This was up from $101.02 million last year.

China Automotive Systems Inc earnings at a glance:

-Earnings (Q2): $8.88 Mln. vs. $5.52 Mln. last year.
-Earnings Growth (Y-o-Y): 60.9%
-EPS (Q2): $0.28 vs. $0.17 last year.
-EPS Growth (Y-o-Y): 64.7%
-Analysts Estimate: $0.14
-Revenue (Q2): $117.66 Mln vs. $101.02 Mln last year.
-Revenue Change (Y-o-Y): 16.5%

Full year EPS guidance: $490 million

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