DALLAS, April 11, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring China Automotive Systems Inc. (Nasdaq:CAAS). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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China Automotive Systems Inc. (CAAS), through its interests in Sino-foreign joint ventures, engages in the manufacture and sale of power steering components and systems to the Chinese automotive industry. The Company offers a full range of steering system parts for passenger automobiles and commercial vehicles. The Company currently offers four separate series of power steering with an annual production capacity of more than 3.5 million sets, steering columns, steering oil pumps and steering hoses. Its customer base is comprised of leading Chinese auto manufacturers, such as China FAW Group Corp., Dongfeng Auto Group Co. Ltd., BYD Auto Company Ltd, Beiqi Foton Motor Co. Ltd. and Chery Automobile Co. Ltd.
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In the report, the analyst notes:
"Shares of CAAS soared on Friday after the power-steering components supplier reported strong preliminary fourth-quarter results, with net sales that came in ahead of analysts' estimates. Analysts, on average, expected revenues of $89.98 million for the quarter, according to a poll by Thomson Reuters."
"Apart from easing accounting concerns, the Company said it expects revenue to continue to grow at about a 20% rate year-over-year in 2011, which implies revenue of $415.1 million. This would beat analysts' average estimate of $398.55 million for the year."
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