Westport Innovations Posts Worse-Than-Expected Q4 Loss

Shares of Westport Innovations (NASDAQ: WPRT  ) are down in after-hours trading following the release of the company's Q4 and fiscal 2013 results. For the quarter, revenues came in at $52.6 million, substantially higher than the $39.9 million in the same period the previous year. Net loss, however, deepened to $89.5 million ($1.42 per share) from Q4 2012's deficit of $37.6 million ($0.68).

On average, analysts had been expecting revenue of C$54 million ($49 million) and a per-share loss of C$0.51 ($0.46). 

For the full year, the top line amounted to $164.0 million, up from 2012's $155.6 million. The 2013 net loss was $185.4 million ($3.22 per share), against the previous year's $98.8 million ($1.83).

The company also proffered revenue guidance for fiscal 2014, saying it anticipates a top line of $175 million to $185 million for the year.

Following the announcement of the results, the company's stock declined by 3.3%, or $0.56, to $16.35 in after-hours trading.

 


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