Financial Information

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key financials

(millions of U.S. dollars, except per share amounts, shares outstanding, and units shipped) 3 mo. ended
Mar. 31
20132012

Notes:

  1. Includes Westport™ 15L, Cummins Westport, and Weichai Westport engines
  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. Excluding warranty liability, deferred revenue, deferred income tax liabilities, and other long-term liabilities.
  4. Westport defines Adjusted EBITDA as net loss attributed to the Company before (a) income taxes, (b) depreciation and amortization, (c) interest expense, net, (d) amortization of stock-based compensation, (e) unrealized foreign exchange loss (gain), and (f) gains and other. 
Units shipped (1) 9,845 4,822
Total revenue 30.1 36.0
Gross margin 8.1 8.9
GM % 26.9% 24.7%
Net loss (31.8) (22.6)
Net loss per share—basic and diluted (2) (0.57) (0.44)
Weighted average shares outstanding 55,342,332 50,883,897
Cash and short-term investments 173.9 215.9
Total assets 444.5 490.1
Long-term financial liabilities (3) 49.3 52.2
Consolidated Adjusted EBITDA (4) (26.3) (13.9)
Cash used in operations before changes in non-working capital (29.1) (21.0)

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