Financial Information

As of June 1st, 2016, Fuel Systems Solutions and Westport Innovations have merged to create Westport Fuel Systems. To view previous Fuel System Solutions financials, visit our Regulatory Filings page.

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Key Financials

(millions of U.S. dollars, except per share amounts and shares outstanding) Quarter ended mar 31
20172016 (1)

Notes:

  1. The merger closed on June 1, 2016. The quarter ended March 31, 2016 does not include Fuel Systems Solutions.
  2. Fully diluted loss per share is not materially different as the effect of conversion of stock options, warrants, and performance share units would be anti-dilutive.
  3. Westport Fuel Systems defines Adjusted EBITDA as EBITDA from continuing operations excluding expenses for stock-based compensation, unrealized foreign exchange gain or loss, and non-cash and other adjustments. Management uses Adjusted EBITDA as a long-term indicator of operational performance since it ties closely to the business units' ability to generate sustained cash flow. Adjusted EBITDA includes the company's share of income from joint ventures.
Total revenue 60.0 24.0
Gross margin 17.5 6.4
GM % 29.2% 27%
Net income (loss) (12.8) (24.6)
Net income (loss) per share—basic and diluted (2) (0.11) (0.38)
Weighted average shares outstanding 110,171,034 64,413,316
Cash and short-term investments 47.7 24.6
Total assets 325.3 209.1
Long-term debt (incl. current portion)
78.4 65.4
Consolidated Adjusted EBITDA (3) (4.1) (11.9)

News Releases

July 19

Westport Fuel Systems Closes Offering of Common Shares

Westport Fuel Systems Inc. announced today the closing of its previously announced offering of 16,700,000 common shares at a price of US$1.50 per share, for gross proceeds of US$25,050,000.

July 14

Westport Fuel Systems Prices Offering of Common Shares

Westport Fuel Systems will offer 16,700,000 common shares at a price of US$1.50 per share, for gross proceeds of US$25,050,000.

July 13

Westport Fuel Systems Provides Q2 2017 Revenue Guidance and Pro Forma Cash Summary

Westport Fuel Systems Inc. announced today that it expects Q2 2017 revenues to be $57-$59 million for the quarter ended June 30, 2017 and a cash balance of approximately $87 million at June 30, 2017.

July 13

Westport Fuel Systems Proposes Offering of Common Shares

Westport Fuel Systems Inc. announced today that it intends to offer and sell common shares in an underwritten public offering.

July 10

Cummins Westport Features 2018 B6.7N Natural Gas Engine at STN Conference & Expo

Midrange B6.7N Engine is a Natural Choice for the School Bus Market.