UPDATE: SORL Auto Parts Reports Better-Than-Expected Q1 Results, Issues Upbeat Guidance

SORL Auto Parts Inc SORL reported upbeat first-quarter results and issued better-than-expected second-quarter revenue projections. SORL reported its Q1 net income attributable to stockholders at $4.9 million, or $0.25 per share, up from $3.6 million, or $0.19 per share, in the year-ago period. The company's revenue increased to $52 million from $38.6 million. However, analysts expected earnings of $0.24 per share on revenue of $49.7 million. The company projects its Q2 net income of around $6.1 million on sales of around $65 million. However, analysts were projecting Q2 sales of $64.1 million. SORL shares gained 3.53% to close at $5.86 on Friday. Read more from Benzinga's Company news.