CC will take place at 5 pm.
The company had guided lower revenues on Oct 29 as below. A new development agreement with Tata Motor announced the same day. I expect the company will guide hgiher the revenue outook. I am not sure why GS talked about the expected expiration of the CMI JV in 2019. A lot of things can happen before then. For now growth of approx. 30% YoY sounds good to me.
"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. Based on these factors, Westport now expects to grow approximately 30% year over year, with an anticipated revenue outlook for 2012 between $340 million and $350 million, from its revenue base of $264 million for 2011. Westport's previous 2012 revenue outlook was a range from $400 million to $425 million.
"We have a strong balance sheet and our asset-light business model allows us to remain competitively positioned," said David Demers, CEO of Westport Innovations Inc. "To help mitigate further contraction in overall transportation markets, we expect a number of key product launches in our automotive, trucking and off-road applications in 2013 including the Cummins Westport ISX12 G and Weichai Westport 12L HPDI engine. We will continue to monitor automotive and trucking markets and make changes in operations if needed."