Westport revenues lurch forward

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VANCOUVER, B.C. — Westport Innovations Inc. has announced that revenues for the third quarter ending Dec. 31 were up 161 per cent over the second quarter.

Revenues during that period amounted to $14.6 million, thanks mainly to the sale of heavy-duty natural gas truck engines by the company’s partner, Cummins Inc.

When all was said and done, however, Westport reported a net loss of $9 million, which is still down from a loss of $14.3 million the previous quarter.

Westport and Cummins are developing a natural gas heavy-duty truck engine using high-pressure direct-injection technology. The company claims the technology will produce power and fuel efficiency rivaling diesel engines.

Westport president, David Demers, says development has been very costly, but he expects to see things balance out over the next year.

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