Westport (WPRT) Tops Q2 EPS by 5c

Westport (NASDAQ: WPRT) reported Q2 EPS of ($0.40), $0.05 better than the analyst estimate of ($0.45). Revenue for the quarter came in at $25.3 million versus the consensus estimate of $25.6 million.

"We have taken immediate action to prioritize the Company's cash used in operations in 2015 and to match investments and expenses with the pace of market adoption," said David Demers, CEO of Westport. "It's no secret that markets are not evolving as rapidly as some predicted. However, there are markets and products around the world that continue to grow above expectation. We have the opportunity to be more selective and prioritize investments to advance required product development. In order for Westport to become a high-growth, innovative, and profitable company, we are using our influence to lead OEM technology choices and successfully manage these relationships. Westport has the intellectual property, the natural gas technology expertise, and industry-leading ideas. We will emerge from this period with a global portfolio of products as this energy transition continues."

For earnings history and earnings-related data on Westport (WPRT) click here.

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