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 DEC 31, 2016
FY 2016FY 2015

The tables above include the results of Fuel Systems from June 1, 2016 (i.e., the year ended December 31, 2016 includes seven months of Fuel Systems' results). The 2015 comparatives do not include any impact from Fuel Systems.


Notes:

  1. 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.
Total revenue 224.9 103.3
Gross margin 48.3 18.1
GM % 21.5% 17.5%
Net income (loss) (97.6) (99.2)
Net income (loss) per share—basic and diluted (1) (1.07) (1.55)
Weighted average shares outstanding 91,028,504 64,109,703
Cash and short-term investments 60.9 27.8
Total assets 331.5 213.7
Long-term debt (incl. current portion)
79.0 62.5
Consolidated Adjusted EBITDA (2) (39.1) (39.8)
Cash used in operations (79.6) (69.1)

News Releases

April 12

Prins and BRC Win Innovation Award at the International GasShow in Warsaw, Poland

Both companies are part of Westport Fuel Systems family of brands

April 7

Westport Fuel Systems Brands at GasShow 2017

Feature brands include BRC, Cubogas, EMER, GFI, Prins, OMVL, Valtek and Zavoli

March 27

Westport Fuel Systems Presents Unaudited Fourth Quarter and Fiscal 2016 Financial Results

Solid finish to 2016 Taking action to address upcoming liquidity needs

March 7

Westport Fuel Systems to Announce Fourth Quarter and Fiscal 2016 Results on Monday March 27, 2017

To coincide with the disclosure, Westport Fuel Systems has also scheduled a conference call for Monday, March 27, 2017 at 2:00 pm Pacific Time (5:00 pm Eastern Time).

1750 West 75th Avenue, Suite 101
Vancouver, British Columbia
Canada, V6P 6G2
T +1-604-718-2000