China Automotive Systems Boosts FY20 Revenue Guidance - Quick Facts

(RTTNews) - While reporting financial results for the third quarter on Thursday, vehicle parts supplier China Automotive Systems, Inc. (CAAS) raised its revenue guidance for the full-year 2020 to $390 million from the prior guidance of $360 million, based on the company's current views on operating and market conditions, which are subject to change.

For the third quarter, the company reported net income attributable to parent company's common shareholders of $2.4 million or $0.08 per share, lower than $4.3 million or $0.14 per share in the prior-year quarter. However, net sales grew 13.8 percent to $114.4 million from $100.5 million in the same quarter last year.