SORL Auto Parts Inc. Bottom Line Retreats 18% In Q2

(RTTNews) - SORL Auto Parts Inc. (SORL) revealed a profit for second quarter that lost ground compared to the same period last year.

The company said its earnings dropped to $5.92 million, or $0.31 per share. This was down from $7.24 million, or $0.37 per share, in last year's second quarter.

Analysts had expected the company to earn $0.33 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 22.7% to $90.21 million. This was up from $73.54 million last year.

SORL Auto Parts Inc. earnings at a glance:

-Earnings (Q2): $5.92 Mln. vs. $7.24 Mln. last year. -Earnings Decline (Y-o-Y): -18.2% -EPS (Q2): $0.31 vs. $0.37 last year. -EPS Decline (Y-o-Y): -16.2% -Analysts Estimate: $0.33 -Revenue (Q2): $90.21 Mln vs. $73.54 Mln last year. -Revenue Change (Y-o-Y): 22.7%

-Guidance: Full year revenue guidance: $315 Mln