Clean Diesel Technologies (CDTI) Tops Q2 EPS by 4c, Offers Guidance

Clean Diesel Technologies (NASDAQ: CDTI) reported Q2 EPS of ($0.16), $0.04 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $9.9 million versus the consensus estimate of $9.9 million.

David Shea, CDTi's CFO, stated: "We continue to expect DuraFit sales to ramp later in 2015 and margins to remain strong in the second half of the year as we reduce launch costs and optimize our supply chain. Therefore, we are reaffirming our outlook for 2015. We expect revenue of between $40 million and $45 million, as compared to $41 million in 2014, and of that, DuraFit to contribute $5 million. We expect gross margin to be at the mid- to high-end of our guidance range which is between 25% and 28%, approaching the 30% achieved in 2014."

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