Fuel Systems (FSYS) Receives STC Decision from GM (GM); Reaffirms FY12 Outlook

Fuel Systems Solutions, Inc. (Nasdaq: FSYS) received in late December a Ship to Commerce (STC) decision from GM (NYSE: GM) to begin deliveries of bi-fuel pickup trucks converted in its Union City, Indiana OEM conversion center using Fuel Systems' natural gas components. GM's Fleet and Commercial department forwards the bi-fuel pickups to its dealer network according to orders status.

Fuel Systems recorded revenue from the deliveries in 2012. Given this and results from major markets served, the company reaffirms its outlook for full year 2012 revenue within its previously announced outlook range. The company will present its full financial results when it reports the 2012 fourth quarter in March.

Additionally, Fuel Systems has received from GM a new 2013 contract that expands the CNG product offering for this year to include both the regular (135-inch / 3,429-mm) and extended (155-inch / 3,937-mm) wheelbase lengths for the Express and Savana Cargo Vans.

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