SORL Auto Parts Inc. Q4 Income Drops

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

The company said its earnings dropped to $2.9 million, or $0.15 per share. This was down from $8.3 million, or $0.43 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.47 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 43.9% to $123.0 million. This was up from $85.5 million last year.

SORL Auto Parts Inc. earnings at a glance:

-Earnings (Q4): $2.9 Mln. vs. $8.3 Mln. last year. -Earnings Decline (Y-o-Y): -65.1% -EPS (Q4): $0.15 vs. $0.43 last year. -EPS Decline (Y-o-Y): -65.1% -Analysts Estimate: $0.47 -Revenue (Q4): $123.0 Mln vs. $85.5 Mln last year. -Revenue Change (Y-o-Y): 43.9%

-Guidance: Full year revenue guidance: $450 Mln