China Automotive Systems (CAAS) Tops Q3 EPS by 7c, Revenues Beat; Raises FY20 Revenue Guidance
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China Automotive Systems Reports Unaudited 2020 Third Quarter Results
November 12, 2020 6:00 AM ESTWUHAN, China, Nov. 12, 2020 /PRNewswire/ -- China Automotive Systems, Inc. (Nasdaq: CAAS) ("CAAS" or the "Company"), a leading power steering components and systems supplier in China, today announced its unaudited financial results for the third quarter and nine months ended September 30, 2020.
 Third Quarter 2020 Highlights
Net sales increased 13.8% to $114.4 million compared with $100.5 million in the third quarter of 2019; Gross profit decreased to $13.6 million and gross margin declined to 11.9% from 17.2% in the third quarter of 2019; Income from operations was $0.1 million compared to income from operations of $4.4... More