SORL Auto Parts Q1 Profit Rises - Quick Facts

(RTTNews) - SORL Auto Parts Inc. (SORL), a manufacturer and distributor of automotive brake systems as well as other key safety-related auto parts in China, said that its net income attributable to stockholders for the first quarter of 2014 rose to $2.8 million or $0.14 per share, from $1.2 million or $0.06 per share in the first quarter of 2013.

Quarterly net sales were $50.0 million, compared with $41.3 million last year. Revenues from the Company's domestic OEM customers increased by 25.4%to $28.6 million, compared with $22.8 million for the first quarter of 2013. The company's domestic aftermarket revenues rose by 14.1% to $10.5 million, compared with $9.2 million in the first quarter of 2013. Revenues from international market increased by 17.2% to $10.9 million, compared with $9.3 million in the first quarter in 2013.

For the fiscal year 2014, the company expects the net sales to be approximately $225.0 million and net income of approximately $12.5 million.