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China Automotive Systems Inc Q2 Profit Rises, Beats estimates

China Automotive Systems Inc (CAAS) released a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $9.43 million, or $0.31 per share. This compares with $3.20 million, or $0.10 per share, in last year's second quarter.

Analysts on average had expected the company to earn -$0.05 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.4% to $127.16 million from $120.60 million last year.

China Automotive Systems Inc earnings at a glance (GAAP) :

-Earnings (Q2): $9.43 Mln. vs. $3.20 Mln. last year.
-EPS (Q2): $0.31 vs. $0.10 last year.
-Analyst Estimate: -$0.05
-Revenue (Q2): $127.16 Mln vs. $120.60 Mln last year.

-Guidance:
Full year revenue guidance: $500 Mln

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