First Quarter Fiscal 2012 increased revenues 132.5%
Westport's consolidated revenue for the three months ended March 31, 2012 was $88.6 million, an increase of $50.5 million, or 132.5%, from $38.1 million for the three months ended March 31, 2011. This increase was driven by an increase in Westport LD revenue of $19.2 million to $26.7 million as the Company began consolidating previous acquisitions; an increase in CWI revenue of $27.6 million to $52.7 million; and an increase in Westport HD revenue of $3.7 million to $9.3 million. $2.7 million associated with the Volvo development agreements were recorded as research and development expenses in the period incurred in the consolidated statement of operations, which will be reimbursable on completion of the next milestone scheduled for the quarter ended June 30, 2012. Due to timing of milestones, no Volvo service revenue was recorded this quarter, compared to $4.1 million in the same period last year and $9.8 million in the quarter ended December 31, 2011.
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Reported cash and short term investments balance as at March 31, 2012 of $333.3 million, compared to $85.7 million at December 31, 2011.
This stock is a Turn around as it down 50% in 80 Days & has Growth & Innovation
Bot more today in the $24 area
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