Highway Holdings Limited (NASDAQ:HIHO) reports 4Q18 Profit Surge

Highway Holdings Limited

Highway Holdings Limited (NASDAQ:HIHO) reported net income for the fourth quarter of $ 0.74 million or $ 0.20 per share, compared to income $ 0.22 million or $ 0.06 per share for the year-ago quarter.

The net sales for fourth quarter decreased 11% to $ 4.18 million from $ 4.72 million in the same quarter last year.

We continued to make progress in streamlining our OEM business, which includes greater utilization of robotics and automation equipment in China and increasing utilization of our Myanmar subsidiary. In addition, we continued to strengthen our technical capabilities with enhancements to our engineering department to support innovation and future growth, said Roland Kohl, chairman, president and chief executive officer.

Be the first to comment

Leave a Reply