Financial Information

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Key Financials

(millions of U.S. dollars, except per share amounts, shares outstanding, and units shipped) Dec 31 2013
Q4CY

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. Excluding warranty liability, deferred revenue, deferred income tax liabilities, and other long-term liabilities.
  3. Westport defines Adjusted EBITDA as net loss attributed to the business unit or the consolidated company excluding expenses for (a) income taxes, (b) depreciation and amortization, (c) interest expense, net, (d) non-cash and other unusual adjustments, (e) amortization of stock-based compensation, and (f) unrealized foreign exchange gain or loss. Adjusted EBITDA includes Westport's share of income from the joint ventures (JVs). 
Total revenue 52.6 164.0
Gross margin (17.0) 15.3
GM % (32.2%) 9.3%
Net loss (89.5) (185.4)
Net loss per share—basic and diluted (1) (1.42) (3.22)
Weighted average shares outstanding 62,829,998 57,633,190
Cash and short-term investments 210.6 210.6
Total assets 491.7 491.7
Long-term financial liabilities (2) 66.0 66.0
Consolidated Adjusted EBITDA (3) (23.2) (96.9)
Cash used in operations before changes in non-working capital (48.3) (135.9)