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China Automotive Systems Inc. Message Board

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  • palosparkflash palosparkflash Nov 12, 2009 11:46 AM Flag

    china locomotive is its new name

    Strong third-quarter earnings powered China's largest U.S.-listed auto parts company on Thursday

    ,Jing Zhou City-based China Automotive Systems (NASDAQ: CAAS - News) is soaring by 14% today after topping EPS estimates and guiding higher for full-year 2009. The company reported record quarterly net income of $8.6 million in the three months ended September 30, beating last year's Q3 profits by 212%. Net sales also jumped year-over-year by 75% to a record $64.7 million. Earnings per share were 28 cents, nearly double the 15 cents expected by analysts. The company expects 2009 revenue to be 40% greater than last year, ahead of analysts' 31% consensus.

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