News

Westport Innovations reports fourth-quarter loss, misses expectations

VANCOUVER – VANCOUVER, British Columbia (AP) _ Westport Innovations Inc. (WPRT) on Tuesday reported a loss of $23.3 million in its fourth quarter.

The Vancouver, British Columbia-based company said it had a loss of 35 cents per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 25 cents per share.

The maker of natural-gas engine technology posted revenue of $25.1 million in the period, also falling short of Street forecasts. Five analysts surveyed by Zacks expected $31 million.

For the year, the company reported that its loss narrowed to $98.4 million, or $1.53 per share. Revenue was reported as $103.3 million.

In the final minutes of trading on Tuesday, the company’s shares hit $2.91. A year ago, they were trading at $4.05.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WPRT at http://www.zacks.com/ap/WPRT

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Keywords: Westport Innovations, Earnings Report