Westport Innovations Reports 1Q Loss

Natural-gas engine manufacturer Westport Innovations reported a first-quarter loss on soft market conditions.

The company reported a first-quarter loss of $31.8 million, or 57 cents a share, compared with income of $22.6 million, or 44 cents, a year ago.

Revenue declined to $30.1 million from $36 million a year ago, the company said. Revenue for the company’s Cummins Westport Inc. business unit declined 15% to $44.7 million.

The company said that, despite soft market conditions at the end of the year, it expects stronger customer demand going forward. Westport said it expects revenue in 2013 to be between $180 million and $200 million, up 16% to 29%.

Westport and Clean Energy Fuels Corp. announced a joint program in March aimed at boosting adoption of liquefied natural gas vehicles among trucking companies.

The companies said they plan to bundle the Westport LNG Tank System with a fuel contract from Clean Energy in an effort to provide a two-year payback to customers who purchase these vehicles.