Revenue Update on Westport Innovations (USA)(NASDAQ:WPRT)

Westport Innovations (USA)(NASDAQ:WPRT) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $44.40M. Analysts estimated a revenue of $49.21M. Earnings per share were $-0.30. Analysts had estimated an EPS of $-0.24.

In a different note, Rodman & Renshaw said it Initiates Coverage on Westport Innovations (USA), according to a research note issued on Jun 20, 2016. The shares have been rated ‘Buy’ by the firm.

Westport Innovations (USA) (WPRT) shares turned negative on Wednesdays trading session with the shares closing down -0.04 points or -2.40% at a volume of 7,63,777. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $1.71. The peak price level was also seen at $1.71 while the days lowest was $1.62. Finally the shares closed at $1.63. The 52-week high of the shares is $4.01 while the 52-week low is $1.29. According to the latest information available, the market cap of the company is $179 M.

Westport Innovations Inc. is a provider of engine and fuel system technologies utilizing gaseous fuels. The Company operates through six segments: Westport Applied Technologies Business Unit Westport On-Road Systems Business Unit Westport Off-Road Systems Business Unit Corporate and Technology Investments Business Unit Cummins Westport Inc and Weichai Westport Inc. Westport Applied Technologies Business Unit designs produces and sells compressed natural gas and liquefied petroleum gas components and subsystems for natural gas vehicles. Westport On-Road Systems Business Unit engineers designs assemble and sell natural gas engine and vehicle systems. Westport Off-Road Systems Business Unit engineers designs and markets the Company’s natural gas technologies. Cummins Westport serves the medium- to heavy-duty engine markets with spark ignited natural gas engines. Weichai Westport develops manufactures and sells advanced alternative fuel engines and parts.

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