The second quarter [t]FSYS[/t] results exceeded expectations and the stock was up 7.5% on Friday.
Company press release
Fuel Systems Solutions 2Q beats analyst views
Fuel Systems Solutions 2nd-qtr results beat analyst expectations, shares jump after-hours
On Thursday August 6, 2009, 7:57 pm EDT
SANTA ANA, Calif. (AP) -- Fuel Systems Solutions Inc. on Thursday reported second-quarter results that beat analysts' expectations.
Shares of the company, which makes parts for fuel-delivery systems sold to auto makers and bus companies, jumped $2.93, or 11 percent, to $29.74 in after-hours trading, after finishing regular trading at $26.82.
For the quarter that ended June 30, Fuel Systems earned $7.4 million, or 46 cents per share, compared with a profit of $4.6 million, or 29 cents per share, in the year-ago quarter. Analysts polled by Thomson Reuters expected a profit of 32 cents per share.
Revenue fell 6 percent to $92.3 million, topping analysts' average estimate of $87.7 million. The company cited the negative impact of a stronger dollar on overseas sales for the decline.
For the full year, Fuel Systems raised its outlook for revenue to $370 million to $380 million, well above Wall Street's forecast of $353.5 million.
AP story link |
