Brief: Highway Holdings Reports Q1 Net sales of $4.1 Mln

Highway Holdings

27/08/2018 13:11

Aug 27 (Reuters) - Highway Holdings Ltd  HIHO.O :
    * HIGHWAY HOLDINGS REPORTS FISCAL 2019 FIRST QUARTER RESULTS
    * Q1 EARNINGS PER SHARE $0.02
    * QTRLY NET SALES $4.1 MILLION VERSUS $5.3 MILLION
    * REMAIN "CAUTIOUSLY OPTIMISTIC" ABOUT LONG-TERM BUSINESS
OUTLOOK,
NOT SATISFIED WITH PERFORMANCE
    * RESULTS FOR QUARTER REFLECT SHARP REDUCTION IN ORDERS FROM
2
LARGER OEM CUSTOMERS
    * HIGHWAY HOLDINGS - ORDER REDUCTIONS DUE TO INCREASING
MANUFACTURING COSTS IN CHINA, WHICH CAUSED SOME BUSINESS TO MOVE
TO OTHER LOWER COST SUPPLIERS
    * HIGHWAY HOLDINGS-INCREASING USE OF NEW MYANMAR
MANUFACTURING
FACILITIES, REDUCING OPERATIONS IN CHINA MAY PARTIALLY INSULATE
CO FROM U.S.-CHINA TRADE DISPUTE

Source text for Eikon:  ID:nGNX62NLyW 
Further company coverage:  HIHO.O 

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