Westport logo

News Tagged with "Financial"

February 29, 2012

FIND OUT MORE  +

Westport Reports Third Quarter Fiscal 2011 and Year End Financial Results

Quarterly Revenues Up 155% Year over Year

Westport reports financial results for the third quarter and nine-month fiscal year ended December 31, 2011 (“Stub Fiscal 2011”) and provided an update on operations. For ease of comparison, Westport also provided comparative figures for the twelve month periods ending December 31, 2011 and December 31, 2010. All figures are in U.S. dollars unless otherwise stated.

February 27, 2012

FIND OUT MORE  +

Westport Closes Offering of Common Shares and Announces Underwriters' Exercise of Over-Allotment Option

Westport announces the closing of its previously announced offering of common shares in the United States and Canada, including the exercise in full of the underwriters' option to purchase an additional 825,000 common shares at the offering price of US$43.25 per share. With the exercise of the option, Westport issued a total of 6,325,000 common shares under the offering for gross proceeds of US$273,556,250.

February 27, 2012

FIND OUT MORE  +

Westport and Leading Engine OEM to Develop Heavy-Duty Natural Gas Truck Engine for North American Market

Development Program Targets Rapidly Growing LNG Truck Opportunity in North America

Westport has signed a development agreement with a leading global engine manufacturer to develop a heavy-duty truck engine featuring Westport proprietary high pressure direct injection (HPDI) technology for the North American market. For competitive reasons, product details have been withheld.

February 22, 2012

FIND OUT MORE  +

Westport Innovations Inc. Prices Offering of Common Shares

Westport announced the pricing of its offering of common shares in the United States and Canada. Westport will offer 5,500,000 common shares at a price of US$43.25 per share, for gross proceeds of US$237,875,000. Westport has granted the underwriters of the offering an option to purchase an additional 825,000 common shares at the offering price during the period ending 30 days from the date of Westport's final prospectus supplement filed in connection with the offering to cover over-allotments, if any. If the over-allotment option is exercised in full, gross proceeds of the offering will be US$273,556,250.

February 21, 2012

FIND OUT MORE  +

Westport Innovations Inc. Offers Common Shares

Westport is offering to sell, subject to market and other conditions, 5,000,000 of its common shares in the United States and Canada pursuant to a preliminary prospectus supplement to its base shelf prospectus originally dated January 3, 2012. Copies of the U.S. preliminary prospectus supplement can be accessed through the SEC's website at www.sec.gov, and copies of the Canadian preliminary prospectus supplement are available at www.sedar.com.

February 21, 2012

FIND OUT MORE  +

Westport Increases Revenue Expectations for Calendar 2011, Provides Revenue Outlook for Calendar 2012

and Announces Third Quarter and Year End Fiscal 2011 Conference Call for Wednesday, February 29, 2012

Westport announced it is revising its revenue expectations for the calendar year ended December 31, 2011 with consolidated revenue expected to be between $260 and $264 million. The increase from the Company’s previous revenue expectation of approximately $240 to $250 million now represents more than 80% growth compared to Westport’s reported consolidated revenue of $144.4 million for the year ended December 31, 2010. For the twelve months ended December 31, 2011, Westport expects to report a net loss per share between $1.26 and $1.28. For the three months ended December 31, 2011, Westport expects to report consolidated revenue of $96 to $100 million and a net loss per share between $0.30 and $0.32.

February 20, 2012

FIND OUT MORE  +

Westport Announces Amended Cummins Westport Joint Venture Agreement

Conference Call to Follow

Westport has entered into an amended and restated joint venture agreement (JVA) with Cummins for the Cummins Westport (CWI) joint venture. The JVA was amended to provide for, among other things, clarification concerning the scope of products within CWI. In addition, the parties have revised certain economic terms of the JVA.

November 1, 2011

FIND OUT MORE  +

Q2 FY2011 Financial Results

Q2 Revenues Increase 80% Year-Over-Year

Westport reports financial results for the Q2 fiscal 2011 (ended September 30, 2011) and provides an update on operations. All figures are in U.S. dollars unless otherwise stated.

October 26, 2011

FIND OUT MORE  +

Westport Announces Second Quarter Fiscal 2011 Conference Call for Tuesday, November 1, 2011

Westport will disclose its financial results for the second quarter of fiscal 2011 ended September 30, 2011 on Tuesday, November 1, 2011 after market close.

September 23, 2011

FIND OUT MORE  +

Westport Replaces Previous Debt with $36 Million of Lower Cost Debt

Westport has raised CDN$36 million through the issuance of debentures offered by Macquarie Private Wealth Inc. (Macquarie), on a private placement basis, to replace previously issued debentures that matured in July 2011.