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 withÌýincome 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.ÌýWestport said it expectsÌýrevenue in 2013Ìýto 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 .
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.