Highway Holdings Reports Profit In Q3 - Quick Facts

(RTTNews) - Highway Holdings Limited (HIHO) reported third-quarter profit per share of $0.08 compared to a loss of $0.08, a year ago. The company said its results for the quarter benefited from the multi-year investments in Myanmar, and management's strategic focus on reducing the higher manufacturing costs.

Third-quarter net sales increased 22 percent to $3.6 million from $2.9 million a year ago. Selling, general and administrative expenses decreased by $287 thousand year-over-year.

The company noted that the coronavirus outbreak will impact its manufacturing facility in Shenzhen, China, as well as its supply chain.