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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) as of NOV 14, 2016
Q3 2016Q3 2015


  1. Net income for the quarter ended September 30, 2016 included $17.5 million in restructuring charges. Excluding the restructuring charges, Westport Fuel Systems net loss for the quarter ended September 30, 2016 would have been $15.8 million. 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.
  2. Westport Fuel Systems defines Adjusted EBITDA as net income (loss) attributed to the business unit or the consolidated company excluding expenses for (a) income taxes, (b) interest expense, net, (c) depreciation and amortization, (d) stock-based compensation, (e) unrealized foreign exchange gain or loss, (f) goodwill impairment, (g) inventory impairment from product line closure, (h) bargain purchase gain, (i) merger and financing costs, (j) amortization fair value inventory adjustment recorded on acquisition, (k) gain or loss on sale of investments, (l) gain or loss on disposal of assets, (m) restructuring, termination and other exit costs, and (n) other. Adjusted EBITDA includes the company's share of income from the joint ventures.
  3. Cash used in operations, excluding changes in working capital, plus dividends received from joint ventures.
Total revenue 76.1 22.3
Gross margin 13.3 0.8
GM % 17.5% 3.6%
Net income (loss) (33.3) (37.4)
Net income (loss) per share—basic and diluted (1) (0.30) (0.58)
Weighted average shares outstanding 109,863,371 64,184,991
Cash and short-term investments 58.7 27.8
Total assets 358.4 209.7
Long-term debt (incl. current portion)
79.4 62.4
Consolidated Adjusted EBITDA (2) (7.6) (9.8)
Cash used in operations (3) (28.3) (14.3)

News Releases

November 28

Westport Expands MY2017 Ford Product Line

Environmental Protection Agency Certifies Westport’s Emission-Reducing WiNG™ Power System on Multiple Ford Platforms

November 15

IMPCO Technologies Expands Hydrogen Components Availability

IMPCO Technologies, Inc., a global leader in the alternative fuel industry and a division of Westport Fuel Systems Inc., has released additional hydrogen components to the line of 350 bar (5000 psi) solenoid valves, safety devices, isolation valves and regulators.

November 9

Westport Fuel Systems Reports Third Quarter 2016 Financial Results

Executing on Key Deliverables - Taking Immediate Action on Portfolio Decisions

November 7

Westport Fuel Systems Announces TSX Ticker Symbol Change To “WPRT”

Aligning the company’s Canadian and U.S. Trading Symbols

November 2

Westport Fuel Systems To Announce Third Quarter Results On Wednesday, November 9, 2016

Westport Fuel Systems Inc. announced today that it will disclose its financial results for the third quarter ended September 30, 2016 on Wednesday, November 9, 2016 after market close.