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

June 23

Westport Fuel Systems Announces New Director Nominee for the Upcoming Annual General Meeting

Longstanding director to retire as previously indicated

June 9

Suzuki Italy Chooses BRC LPG Systems to Expand Alternative Fuel Product Offering

Longstanding partnership provides bi-fuel LPG options to growing market

June 5

GHG Reduction Benefits of Natural Gas for Transportation Confirmed by New NGVA Europe Study

Westport Fuel Systems Next-Generation Natural Gas Engine and Vehicle Technologies Validated as a Key Solution for De-carbonizing the Transport Sector

June 1

Westport Fuel Systems Closes the Second Divestiture Action of the Industrial Group for $17.5 Million USD

Westport Fuel Systems Inc. today announced the closing of the sale of assets related to its Impco Industrial Mobile and Stationary Equipment business for a total of $17.5 million US dollars.

May 11

Westport Fuel Systems Reports First Quarter 2017 Financial Results, 2017 Off to a Strong Start

Westport Fuel Systems Inc. reported financial results for the first quarter ended March 31, 2017, and provided an update on operations.