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Financial Information

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Key Financials

(millions of U.S. dollars, except per share amounts and shares outstanding) DEC 31
FY 2014FY 2013


  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. Including current portion of the long-term debt.
  3. Adjusted EBITDA is used by management to review operational progress of its business units and investment programs over successive periods and as a long-term indicator of operational performance since it ties closely to the unit's ability to generate sustained cash flows. Adjusted EBITDA reflects the operational performance of a business on a cash basis before working capital adjustments. Westport defines Adjusted EBITDA as net income (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 (loss) from the joint ventures ( JVs). 
Total revenue 130.6 164.0
Gross margin 32.7 15.3
GM % 25.0% 9.3%
Net loss (149.6) (185.4)
Net loss per share—basic and diluted (1) (2.37) (3.22)
Weighted average shares outstanding 63,130,022 57,633,190
Cash and short-term investments 94.0 210.6
Total assets 337.7 491.7
Long-term debt (2)
78.5 66.0
Consolidated Adjusted EBITDA (3) (83.9) (96.9)
Cash used in operations (106.8) (116.8)