SORL Auto Parts Q2 Net Income Decreases - Quick Facts

(RTTNews) - SORL Auto Parts, Inc. (SORL) reported second quarter net Income attributable to stockholders of $2.3 million, or $0.12 per share compared to $4.1 million, or $0.21 per share, in the second quarter of 2014.

Sales were $59.3 million compared to $65.7 million in the second quarter last year. Gross margin was 27.9% compared to 28.2%.

Xiaoping Zhang, SORL's CEO, said, "We experienced a solid quarter in a challenging second quarter due to an industrywide decline in commercial vehicle sales in China as well as in international markets. We outperformed key markets as the heavy-duty truck market declined more than 25% in the second quarter."

For fiscal 2015, the company has revised its expectation for sales to be approximately $240.0 million and net income to be approximately $14.0 million.