Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Lifestyles
Classified Sites

The Canadian Press - ONLINE EDITION

Westport Innovations Q1 loss narrows to US$29.9M; revenue rises to US$41.9

VANCOUVER - Westport Innovations Inc. (TSX:WPT) reduced its year-over-year net loss substantially in the first quarter as revenue increased by more than a third.

The Vancouver-based maker of advanced natural gas engines and systems says its net loss for the three months ended March 31 fell to US$23.9 million or 38 cents per share from US$31.8 million or 57 cents per share in the same year-earlier period.

Revenue grew 39 per cent to US$41.9 million from US$30.1 million.

CEO David Demers said the company had made a significant improvement in adjusted EBITDA from operations, swinging from an average loss of approximately US$9.4 million to a $1.6-million loss.

"We are on track to achieve positive adjusted EBITDA from operations by the end of 2014 by continuing to increase sales, shipping committed products and applying cost and margin discipline," Demers said.

"At the same time, we are confident that our investment projects will deliver shareholder value as these products come to market."

  • Rate this Rate This Star Icon
  • 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 Commentscomment icon

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 Commentcomment icon

Comment
  • You have characters left

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.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
Sudden Surge: Flood of 2014
Opportunity Magazine — The Bakken
Why Not Minot?
Welcome to Winnipeg

Social Media