Sorl Auto Parts (SORL) Jumps In Pre-Market Trading

Shares of Sorl Auto Parts, Inc. SORL jumped in pre-market trading today, following the first-quarter results announced by the company. Sorl Auto Parts reported first-quarter profit of $3.2 million, or $0.17 per share, compared with a profit of $927,629, or $0.05 per share reported for the same period last year. Revenue stood at $34.1 million. Gross margin improved 110 basis points to 28.3%. The company has forecast second-quarter profit at $4.3 million, ahead of analysts’ estimate of $4.1 million. Following the first-quarter results and the positive guidance, Sorl Auto Parts jumped 4.95% to $10.61 in pre-market trading.