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The Street.com could be right about CAAS ahead of earnings.

November 04, 2009 – Comments (0) | RELATED TICKERS: CAAS

I looked back to August earnings reported by caas and they were spectacular with more stellar earnings were predicted for the current qtr.

China Automotive posts 28 pct jump in 2Q profit
China Automotive Systems 2nd-quarter earnings increase 28 percent on improved sales

    * On 8:15 am EDT, Wednesday August 12, 2009

          Companies:
          o China Automotive Systems Inc.

NEW YORK (AP) -- China Automotive systems Inc., which makes power steering components and systems, said Wednesday it's net income rose 28 percent, helped by a boost in sales and falling expenses.

The company said earnings for the three months ended June 30 rose to $6.1 million, or 21 cents per share, from $4.7 million, or 18 cents per share, last year.

Revenue climbed 34 percent to $62.5 million.

China Automotive, based in Wuhan, China, credited the higher income to rising sales and a decrease by nearly half in general and administrative expenses.

Sales of steering products for passenger and light-duty vehicles rose 45 percent to $41.8 million, while sales for commercial vehicles rose 7.9 percent to $14.6 million, the company said.

Sales from oil pumps and sensors surged 49 percent to nearly $6 million, it said. The company also raised its full-year outlook.