Westport reports financial results for the first quarter ended March 31, 2012 and provides an update on operations. All figures are in U.S. dollars unless otherwise stated. Westport has scheduled a conference call for today, Tuesday, May 8, 2012 at 2:00 pm Pacific Time (5:00 pm Eastern Time) to discuss these results.
Westport will disclose its financial results for the first quarter of calendar year 2012 ended March 31, 2012 on Tuesday, May 8, 2012 after market close. To coincide with such disclosure, Westport has scheduled a conference call for Tuesday, May 8, 2012 at 2:00 pm Pacific Time (5:00 pm Eastern Time).
Westport has entered into a business sale agreement to purchase certain assets of Advanced Engine Components Limited (AEC) of Perth, Western Australia, for A$1.45 million (approximately US$1.6 million) to be paid in cash and assumed liabilities. Upon successful completion of the transaction, Westport will acquire AEC's Australian business assets including its intellectual property, key contracts, inventory and fixed assets.
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.
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.
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