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

(expressed in millions of U.S. dollars, except for per share amounts, shares outstanding) Quarter ended JUN 30
20172016 (1)

[1] the merger closed on June 1, 2016. The quarter ended June 30, 2016 includes 1 month of data from Fuel Systems Solutions

[2] 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 62.1 37.2
Gross margin 15.8 8.1
GM % 25.5% 21.8%
Net income (loss) from Continuing Operations (13.3) 3.4
Net income (loss) per share—basic  0.29 0.05
Net income (loss) per share—diluted  0.26 0.04
Weighted average shares outstanding—basic 110,462,019 79,385,839
Weighted average shares outstanding—diluted 124,649,197  96,306,658
Cash and short-term investments 87.7 71.2
Total assets 340.3 401.1
Total debt 79.1 81.5
Consolidated Adjusted EBITDA(2) (5.3) (11.5)
Net cash used in operating activities of Continuing Operations (12.4) (24.4)

News Releases

August 29

Westport Fuel Systems to Repay Existing Debentures at Maturity

Early Termination of Debenture Tender Offer and Cancellation of Meeting of Debentureholders

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.