This is an update to an article originally published on 9/18/12. You can read the original article here: http://sumzero.com/headlines/118.
Westport Innovations lowers FY12 revenue guidance below consensus - Company lowered guidance for FY12 (Dec), sees FY12 (Dec) revs of $340-350 mln from prior guidance of $400-425 mln vs. $412.01 mln Capital IQ Consensus Estimate.
Guidance revision is due to recent feedback from Original Equipment Manufacturers (OEM) and fleet customers in North America and automotive OEM customers in Europe, Westport has proactively updated its 2012 financial outlook. Since earlier this year, Westport has secured strong growth and new opportunities in all areas of its business; however, heightened uncertainty in the economy and delayed availability of liquefied natural gas (LNG) infrastructure has OEM customers sharply reducing inventory and end customers delaying decisions to complete orders.
I still believe there is much to go as relates to the downside in this name. I think the cut in guidance is a precursor to what is in store going forward.
To read the original article, follow this link: http://sumzero.com/headlines/118.