Business
Westport Announces Corporate Update and Third Quarter Calendar 2012 Conference Call for Thursday, November 8, 2012
VANCOUVER, Oct. 29, 2012 /CNW/ - Westport Innovations Inc. (TSX:WPT / NASDAQ:WPRT), the glo...
About this update from Westport Fuel Systems, Inc.
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Oct. 29, 2012 /CNW/ - Westport Innovations Inc. (TSX:WPT /\n NASDAQ:WPRT), the global leader in natural gas engines, today announced\n that its results for the third quarter ended September 30, 2012 will be\n released on Thursday, November 8, 2012 after market close. To coincide\n with the disclosure, Westport has also scheduled a conference call for\n Thursday, November 8, 2012 at 2:00 pm Pacific Time (5:00 pm Eastern\n Time).\n\n\nDue to recent feedback from Original Equipment Manufacturers (OEM) and\n fleet customers in North America and automotive OEM customers in\n Europe, Westport has proactively updated its 2012 financial outlook.\n Since earlier this year, Westport has secured strong growth and new\n opportunities in all areas of its business; however, heightened\n uncertainty in the economy and delayed availability of liquefied\n natural gas (LNG) infrastructure has OEM customers sharply reducing\n inventory and end customers delaying decisions to complete orders.\n Based on these factors, Westport now expects to grow approximately 30%\n year over year, with an anticipated revenue outlook for 2012 between\n $340 million and $350 million, from its revenue base of $264 million\n for 2011. Westport's previous 2012 revenue outlook was a range from\n $400 million to $425 million.\n\n\n\"We have a strong balance sheet and our asset-light business model\n allows us to remain competitively positioned,\" said David Demers, CEO\n of Westport Innovations Inc. \"To help mitigate further contraction in\n overall transportation markets, we expect a number of key product\n launches in our automotive, trucking and off-road applications in 2013\n including the Cummins Westport ISX12 G and Weichai Westport 12L HPDI\n engine. We will continue to monitor automotive and trucking markets and\n make changes in operations if needed.\"\n\n\nLive Conference Call & Webcast\nThe public is invited to listen to the conference call in real time by\n telephone or webcast. To access the conference call by telephone,\n please dial: 1-800-319-4610 (Canada & USA toll-free) or 604-638-5340.\n The live webcast of the conference call can be accessed through the\n Westport website at www.westport.com/investors.\n\n\nReplay Conference Call & Webcast\nTo access the conference call replay, please dial 1-800-319-6413 (Canada\n &...