Vehicle parts supplier China Automotive Systems, Inc. (CAAS), while reporting weak earnings and higher sales in its fourth quarter, on Friday issued fiscal 2025 revenue outlook, expecting year-over-year growth.
For fiscal 2025, the company projects revenues of $700.0 million, higher than the $650.9 million recorded in fiscal 2024.
In its fourth quarter, net income attributable to parent company's common shareholders was $9.1 million or $0.30 per share, compared to $10.9 million or $0.36 per share in 2023.
Net sales increased 18.6 percent to $188.7 million from $159.2 million a year ago.
The net sales increase was mainly due to a change in the product mix and higher demand for passenger automobiles and commercial vehicles in the fourth quarter.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com.
For comments and feedback: editorial@rttnews.com