Westport: The Good, Bad, and Ugly
After another quarterly report, Westport Innovations (WPRT) had mixed results with good news for longs and bad news for shorts. Any investor checking back into the story after an absence should realize that since the last earnings release, the much-anticipated Cummins (CMI) - Westport, or CWI, joint venture's 400HP 12-liter engine hit production and the company completed a secondary offering to raise cash. The combination of news items sets the company up for positive results in the future.
Unfortunately, the leader of natural gas engines didn't provide details on the earnings report that helped the stock, though it shouldn't be hurt that bad either. The lack of details regarding CWI growth and the continued focus on new development projects again left the investment community with concerns about profitability.
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