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CAAS beats 2009 Q4 estimates

CAAS beats 2009 Q4 estimates

March 25, 2010 (Chinavestor) Shares of China Automotive Systems (NASDAQ:CAAS), a highly volatile and liquid NASDAQ listed China stock, advanced +5.5% one hour after the open on Thursday after comfortably beating analysts' expectations. The company reported 2009 total revenues of $256.2 million, well above previous guidance of $228 million. Earnings per share were $.28 well above estimated range of $.15-$.18.

Source: Reuters.com

But China Automotive Systems (NASDAQ:CAAS) is going to slow down according to latest figures. The company issued a forward looking statement saying it expects total revenues to increase +20% in 2010, a significant change from +56.6% YoY growth in the 2008-2009 period.

This slower +20% growth is captured by the chart above. Calculation:

2009 total revenues of $255.6 million * 1.2 = $306.72 full 2010.

Estimated first quarter revenues: $306.72 / 4 = $76.68 million

 

 
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