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3/8/2013 10:10:00 AM Write a Letter to the Editor Write a letter to the Editor

Westport’s Natural-Gas Engine Deliveries Rise 25% for Year

Westport Innovations Inc. said its natural-gas engine sales declined for the fourth quarter but rose 25% for the year on higher North American and international demand.

Through a joint venture with engine maker Cummins Inc., engine shipments for the quarter fell 35% to 1,301 units but rose to 6,804 for the full year, Westport said late Thursday.

North American sales rose 23% for the year, while international sales rose 29% for all of 2012.

The Vancouver, British Columbia-based company said it lost $37.6 million, or 68 cents per share, compared to a loss of $14.5 million, or 30 cents per share, in 2011. Revenue for the quarter fell 7% to $39.9 million.

The manufacturer reported a full-year loss of $98.8 million, compared with a loss of $60.2 million in 2011. Revenue increased 54% to $155.6 million.

“There has been a transformational shift in the opportunity for natural-gas solutions for transportation,” said Westport CEO David Demers.

“Global infrastructure partners and original equipment manufacturers covering multiple platforms are signing up to develop natural-gas products with Westport,” he said in a statement.

By Transport Topics

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