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Westport Innovations Inc. Message Board

  • flyingzorbaman flyingzorbaman Apr 27, 2010 9:18 AM Flag

    Cummins blows away earnings estimate

    Here's a link to their press release:

    http://www.cummins.com/cmi/content.jsp?siteId=1&langId=1033&menuId=4&overviewId=15&dataId=3038&menuIndex=0

    Notice this line in release:

    "Joint venture income more than doubled year-over-year to $76 million in the first quarter, largely on increased volume at the Company’s engine joint ventures in China and India."

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    • I was just trying not to let any one give wrong data
      Its nice to see some one who respects an honest opinion
      I own the stock and believe they are going to blow the numbers away
      China is doing everything it can for natural gas it will take several years befor nation wide usuage

    • thanks for straightening me out guys. I still see CMI's growth at JV sites as positive, but, clearly, I was seeing too much pie in the sky.

      I'm looking forward to earnings.

    • If you look for Cummins joint manufacturing sites in China and India, you will find three plants: Chongquing Cummins, Dongfeng Cummins and Tata Motors. http://www.cummins.com/cmi/content.jsp?siteId=1&langId=1033&menuId=4&overviewId=17&menuIndex=3

      CWI is in all three plants, no?

      So, if CMI 'more than doubled' its joint venture income (largely realized on increased volume in China and India), this bodes well for WPRT. If CMI's cut of the profit was $76 million, ours should be around the same, no?

      When you start working the p/e ratio off of these kinds of earnings numbers, you can see that the pps has a lot of upside potential. Increasingly, I think the Climate Bill is less relevant to our bottom line. The worldwide market is clearly favoring the Nat Gas/heavy truck thesis.

      • 2 Replies to flyingzorbaman
      • "CWI is in all three plants, no? "

        (2 CC’s ago.)

        Elaine Wong, Chief Financial Officer

        In our financial statements and the MD&A we’ve got a product revenue by geographic regions chart that gives a bit of a breakdown.
        What you’ll see, Graham, is that this year as compared to last year there was a lot more international sales to Asia and the rest of the world so you can read Asia and the rest of the world is India and China, of course, right, those two. What’s happened with China is we export the engines to China, they go into Chinese buses and some of them make their way down to South America, and India it’s mostly the kits sales that we are also seeing some other activities as well in other parts of the world.

        Graham Mattison, Lazard Capital
        So those tend to be the Bs as opposed to the ISL Gs?
        Elaine Wong, Chief Financial Officer

        Actually the ISL Gs are actually going to China believe it or not. They are taking larger buses so they’re still not quite as prevalent as the Bs but we are seeing ISL Gs now starting to ship.
        http://www.westport.com/pdf/conf_FY10Q2_2009-11-12.pdf

      • "So, if CMI 'more than doubled' its joint venture income (largely realized on increased volume in China and India), this bodes well for WPRT. If CMI's cut of the profit was $76 million, ours should be around the same, no?"

        I meant to say "CMI's cut of the income" instead of "profit."

        Is anyone listening to CMI's conference call? Someone needs to do it.

 
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