Westport Reports 2Q Loss on Higher Expenses; Revenue Rises

Westport Innovations, which makes natural gas engines for trucking in a venture with Cummins Inc., reported a second-quarter net loss on higher expenses but announed that its revenue rose to a record on year-over-year growth.

The Vancouver, British Columbia, company lost $33.9 million, or 61 cents a share, compared with a loss of $6.1 million, or 11 cents, a year ago.

Revenue rose 38% to $78 million, and the company said it shipped more than 2,700 engines in the quarter.

“[Cummins Westport Inc.] volume in North America grew by 25% with strength in all segments but significant growth in trucking, including the launch of the Cummins Westport ISX12 G [engine] in April,” Westport CEO David Demers said in a statement.

Westport officials said earlier this summer that over-the-road trucking companies are moving to greater use of liquefied natural gas engines.