Westport Innovations Inc. (WPRT) Reports 2Q and Fiscal 2015 Financial Result - Smarter Analyst
(USA) (NASDAQ: WPRT ), engineering the world’s most advanced natural gas engines and systems, today reported financial results for the second quarter ended June 30, 2015 and provided an update on operations. Westport continues to deliver on key corporate development milestones, launching industry-leading products while cash and investment discipline demonstrates steady progress toward the goal of consolidated positive adjusted EBITDA by mid-2016. In the second quarter of 2015, Westport announced the introduction of the new Volvo Car Drive-E powertrain bi-fuel engine, EPA certification of 2015 Ford Transit Van, the new Ford F-150 bi-fuel product, and the completion of a major engine program... There are several key activities that continuously expand the markets for Natural Gas Vehicles (“NGV”) while the backdrop of foreign economies and petroleum-based fuel pricing provides a challenge for some of Westport’s business lines. Westport achieved a significant improvement in Westport Consolidated adjusted EBITDA for the second quarter of 2015 compared to the same period last year. “Global energy price volatility and the economic turbulence in many markets continues to put pressure on our global business units, but since natural gas prices generally have fallen in line with petroleum product prices, we continue to see good... Source: www.smarteranalyst.com
