Lifestyles Breaking News

The Canadian Press - ONLINE EDITION

Natural gas engine company Westport reports US$37.6-million fourth-quarter loss

By: The Canadian Press

Thursday, Mar. 7, 2013 at 3:58 PM | Comments: 0

VANCOUVER - Westport Innovations Inc. (TSX:WPT) lost US$37.6 million in its latest quarter compared with a loss of $14.5 million a year ago, as it increased development spending and prepared to launch several new products this year.

The natural gas engine technology company, which keeps its books in U.S. dollars, said the loss amounted to 68 cents per share in its latest quarter compared with a loss of $14.5 million or 30 cents per share a year ago.

Revenue for the quarter ended Dec. 31 totalled $39.9 million, down from $42.9 million.

For the full year, the company said it lost $98.8 million or $1.83 per share on $155.6 million in revenue. That compared with a loss of $60.2 million or $1.26 per share on $100.8 million in revenue in 2011.

Westport said it expects revenue to be between $180 million and $200 million for 2013.

Westport develops engines that use fuels such as compressed natural gas, liquefied natural gas, hydrogen and renewable natural gas fuels such as landfill gas.

The company also has several joint ventures including Cummins Westport Inc. and Weichai Westport Inc.

Rate this
This article has not yet been rated.

We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

You can also register and/or login to the site and join the conversation by leaving a comment.

Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Comments

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Comment

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.