aah the potential Westport Innovations Inc. has a good story to tell at the end of the Fiscal Year ended 31 March 2009 (FY2009), indicative of the strengthening interest in alternative fuel technology and transport worldwide, and in particular, in heavy duty CNG/LNG engines like the ISL G. Some financial and business highlights include:
Delivery of 4,038 units in fiscal 2009 as compared to 2,720 units in fiscal 2008. Reported consolidated annual revenues of $121.8 million compared to $71.5 million for fiscal 2008, an increase of 70%. Announced order for 3,125 CWI engines for India. Westport states the increase is primarily the result of increased sales of Cummins Westport Inc. (CWI)'s ISL G in North America with demand from the transit and refuse markets and the increase in LNG systems shipped. Non-CWI revenues were $11.9 million from the sale of 131 LNG systems for heavy duty trucks compared to $4.2 million from 36 LNG units in 2008. Sales included 122 units in North America compared with 36 in the prior year and 9 units in Australia compared with none in the previous year.
ACE Price at posting:
4.4¢ Sentiment: Hold Disclosure: Held
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