Westport Innovations reports third-quarter losses

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VANCOUVER, B.C. — Westport Innovations reported a $12.2 million loss in its third fiscal quarter, ending Dec. 31.

The company has been continuing development of its clean-burning natural gas engine, which is expected to hit the market in 2004.

The third-quarter losses amounted to 24 cents per share and compares to a loss of $9 million over the same period in 2001.

Westport generated $5.6 million in revenue, down from $14.9 million a year ago. Revenues came from the sale of natural gas bus engines through a joint initiative with Cummins.

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