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

August 14

Westport Fuel Systems Reports Second Quarter 2017 Financial Results

Enhanced Liquidity and Continued Execution on Stated Goals

August 7

Westport Fuel Systems to Announce Second Quarter Results on Monday, August 14, 2017

To coincide with the disclosure, Westport Fuel Systems has also scheduled a conference call on Monday, August 14, 2017 at 2:00 pm Pacific Time (5:00 pm Eastern Time).

July 28

Westport Fuel Systems Announces Underwriters' Exercise of Over-Allotment Option

Westport Fuel Systems Inc. announced today the exercise of the underwriters' option from its previously announced offering to purchase an additional 2,425,000 common shares at the Offering price of US$1.50 per share. With the exercise of the option, Westport issued a total of 19,125,000 common shares under the offering for gross proceeds of US$28,687,500.

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.