Financial Statements for Westport Innovations Inc.

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Westport Innovations Inc. financials

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Income Statement

Balance Sheet

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In Millions of USD (except for per share items)	3 months ending 2013-03-31	9 months ending 2012-12-31	3 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Revenue	30.05	119.67	76.14	194.70	35.95
Other Revenue, Total	-	-	-	-	-
Total Revenue	30.05	119.67	76.14	194.70	35.95
Cost of Revenue, Total	21.96	75.39	54.98	125.70	27.10
Gross Profit	8.10	44.29	21.16	69.01	8.85
Selling/General/Admin. Expenses, Total	19.09	57.13	19.04	40.00	17.79
Research & Development	20.44	58.95	20.04	36.71	14.25
Depreciation/Amortization	3.60	8.91	2.96	5.29	2.48
Interest Expense(Income) - Net Operating	-	-	-	-	-
Unusual Expense (Income)	-	-	-	-	-
Other Operating Expenses, Total	-	-	-	-	-
Total Operating Expense	61.57	194.83	105.11	203.68	57.83
Operating Income	-31.51	-75.16	-28.96	-8.97	-21.88
Interest Income(Expense), Net Non-Operating	-	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-
Other, Net	-	-	-	-	-
Income Before Tax	-31.51	-75.16	-28.96	-8.97	-21.88
Income After Tax	-31.80	-76.15	-28.91	-20.27	-22.63
Minority Interest	-	-	-3.58	-8.41	-
Equity In Affiliates	-	-	-	-	-
Net Income Before Extra. Items	-31.80	-76.15	-32.49	-28.68	-22.63
Accounting Change	-	-	-	-	-
Discontinued Operations	-	-	-	-	-
Extraordinary Item	-	-	-	-	-
Net Income	-31.80	-76.15	-32.49	-28.68	-22.63
Preferred Dividends	-	-	-	-	-
Income Available to Common Excl. Extra Items	-31.80	-76.15	-32.49	-28.68	-22.63
Income Available to Common Incl. Extra Items	-31.80	-76.15	-32.49	-28.68	-22.63
Basic Weighted Average Shares	-	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	55.34	55.40	55.15	52.18	50.88
Diluted EPS Excluding Extraordinary Items	-0.57	-1.37	-0.59	-0.55	-0.44
Diluted EPS Including Extraordinary Items	-	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-	-
Depreciation, Supplemental	-	-	-	-	-
Total Special Items	-	-	-	-	-
Normalized Income Before Taxes	-	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-	-
Normalized Income After Taxes	-	-	-	-	-
Normalized Income Avail to Common	-	-	-	-	-
Basic Normalized EPS	-	-	-	-	-
Diluted Normalized EPS	-0.57	-1.37	-0.59	-0.55	-0.44

In Millions of USD (except for per share items)	12 months ending 2012-12-31	9 months ending 2011-12-31	12 months ending 2011-03-31	12 months ending 2010-03-31
Revenue	155.63	87.70	36.77	130.70
Other Revenue, Total	-	-	-	-
Total Revenue	155.63	87.70	36.77	130.70
Cost of Revenue, Total	102.49	67.09	23.99	89.15
Gross Profit	53.14	20.60	12.78	41.55
Selling/General/Admin. Expenses, Total	74.92	38.04	29.02	30.70
Research & Development	73.20	36.57	24.62	28.16
Depreciation/Amortization	11.39	6.20	3.38	1.96
Interest Expense(Income) - Net Operating	-	-	-	-
Unusual Expense (Income)	-	-	-	-
Other Operating Expenses, Total	-	-	-	-
Total Operating Expense	252.66	134.65	78.50	151.16
Operating Income	-97.04	-46.95	-41.72	-20.46
Interest Income(Expense), Net Non-Operating	-	-	-	-
Gain (Loss) on Sale of Assets	-	-	-	-
Other, Net	-	-	-	-
Income Before Tax	-97.04	-46.95	-41.72	-20.46
Income After Tax	-98.77	-45.79	-42.14	-29.48
Minority Interest	-	-	-	-7.60
Equity In Affiliates	-	-	-	-
Net Income Before Extra. Items	-98.77	-45.79	-42.14	-37.08
Accounting Change	-	-	-	-
Discontinued Operations	-	-	-	-
Extraordinary Item	-	-	-	-
Net Income	-98.77	-45.79	-42.14	-37.08
Preferred Dividends	-	-	-	-
Income Available to Common Excl. Extra Items	-98.77	-45.79	-42.14	-37.08
Income Available to Common Incl. Extra Items	-98.77	-45.79	-42.14	-37.08
Basic Weighted Average Shares	-	-	-	-
Basic EPS Excluding Extraordinary Items	-	-	-	-
Basic EPS Including Extraordinary Items	-	-	-	-
Dilution Adjustment	0.00	0.00	0.00	0.00
Diluted Weighted Average Shares	54.07	47.93	42.31	34.13
Diluted EPS Excluding Extraordinary Items	-1.83	-0.96	-1.00	-1.09
Diluted EPS Including Extraordinary Items	-	-	-	-
Dividends per Share - Common Stock Primary Issue	0.00	0.00	0.00	0.00
Gross Dividends - Common Stock	-	-	-	-
Net Income after Stock Based Comp. Expense	-	-	-	-
Basic EPS after Stock Based Comp. Expense	-	-	-	-
Diluted EPS after Stock Based Comp. Expense	-	-	-	-
Depreciation, Supplemental	-	-	-	-
Total Special Items	-	-	-	-
Normalized Income Before Taxes	-	-	-	-
Effect of Special Items on Income Taxes	-	-	-	-
Income Taxes Ex. Impact of Special Items	-	-	-	-
Normalized Income After Taxes	-	-	-	-
Normalized Income Avail to Common	-	-	-	-
Basic Normalized EPS	-	-	-	-
Diluted Normalized EPS	-1.83	-0.96	-1.00	-1.09

In Millions of USD (except for per share items)	As of 2013-03-31	As of 2012-12-31	As of 2012-09-30	As of 2012-06-30	As of 2012-03-31
Cash & Equivalents	165.69	188.96	257.86	213.77	245.53
Short Term Investments	8.22	26.90	36.84	93.46	87.80
Cash and Short Term Investments	173.91	215.86	294.69	307.23	333.33
Accounts Receivable - Trade, Net	35.83	41.56	35.77	57.49	49.09
Receivables - Other	-	-	-	-	-
Total Receivables, Net	38.34	44.19	64.78	81.10	72.54
Total Inventory	48.19	44.95	48.49	46.15	42.86
Prepaid Expenses	6.97	6.64	10.85	10.27	10.69
Other Current Assets, Total	4.04	7.18	8.25	7.93	6.17
Total Current Assets	271.46	318.82	427.06	452.67	465.58
Property/Plant/Equipment, Total - Gross	117.38	112.41	103.61	94.40	91.94
Accumulated Depreciation, Total	-55.53	-54.21	-52.16	-48.60	-47.73
Goodwill, Net	55.45	56.88	55.89	54.74	57.31
Intangibles, Net	33.48	35.22	35.23	35.40	38.05
Long Term Investments	20.46	19.12	11.03	9.97	9.25
Other Long Term Assets, Total	1.78	1.85	10.10	9.62	8.15
Total Assets	444.48	490.08	590.76	608.20	622.55
Accounts Payable	42.56	38.13	41.33	47.72	47.32
Accrued Expenses	3.34	9.50	5.58	6.39	4.65
Notes Payable/Short Term Debt	0.00	0.00	0.00	0.00	1.11
Current Port. of LT Debt/Capital Leases	28.05	28.57	28.75	19.89	22.41
Other Current liabilities, Total	6.04	4.27	21.09	19.92	25.05
Total Current Liabilities	79.99	80.47	96.75	93.91	100.54
Long Term Debt	49.28	52.16	53.41	60.61	65.05
Capital Lease Obligations	-	-	-	-	-
Total Long Term Debt	49.28	52.16	53.41	60.61	65.05
Total Debt	77.33	80.72	82.16	80.49	88.57
Deferred Income Tax	6.01	9.24	4.75	4.98	3.54
Minority Interest	-	-	29.87	26.29	22.65
Other Liabilities, Total	8.78	12.13	35.52	33.12	27.65
Total Liabilities	144.06	154.00	220.29	218.91	219.44
Redeemable Preferred Stock, Total	-	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-	-
Common Stock, Total	735.40	733.38	733.32	728.73	727.60
Additional Paid-In Capital	6.91	6.38	5.79	5.18	4.65
Retained Earnings (Accumulated Deficit)	-461.73	-429.93	-392.33	-359.84	-353.79
Treasury Stock - Common	-	-	-	-	-
Other Equity, Total	19.84	26.24	23.69	15.22	24.65
Total Equity	300.42	336.08	370.47	389.29	403.11
Total Liabilities & Shareholders' Equity	444.48	490.08	590.76	608.20	622.55
Shares Outs - Common Stock Primary Issue	-	-	-	-	-
Total Common Shares Outstanding	55.40	55.29	55.29	54.99	54.90

In Millions of USD (except for per share items)	As of 2012-12-31	As of 2011-12-31	As of 2011-03-31	As of 2010-03-31
Cash & Equivalents	188.96	63.28	148.46	71.08
Short Term Investments	26.90	4.27	31.84	34.01
Cash and Short Term Investments	215.86	67.56	180.30	105.10
Accounts Receivable - Trade, Net	41.56	42.81	14.65	10.21
Receivables - Other	-	-	-	-
Total Receivables, Net	44.19	50.92	30.13	24.90
Total Inventory	44.95	37.03	16.80	8.12
Prepaid Expenses	6.64	6.46	1.79	1.30
Other Current Assets, Total	7.18	2.05	7.28	5.03
Total Current Assets	318.82	164.02	236.31	144.44
Property/Plant/Equipment, Total - Gross	112.41	80.73	49.21	38.77
Accumulated Depreciation, Total	-54.21	-45.32	-37.13	-32.60
Goodwill, Net	56.88	55.81	8.20	0.00
Intangibles, Net	35.22	36.58	6.86	0.29
Long Term Investments	19.12	26.31	5.62	0.00
Other Long Term Assets, Total	1.85	2.93	4.30	4.11
Total Assets	490.08	321.06	273.37	155.01
Accounts Payable	37.96	37.65	18.27	7.66
Accrued Expenses	9.50	9.39	5.27	3.42
Notes Payable/Short Term Debt	0.00	19.41	0.21	3.43
Current Port. of LT Debt/Capital Leases	28.57	20.57	15.21	0.14
Other Current liabilities, Total	4.44	3.88	15.42	15.47
Total Current Liabilities	80.47	90.89	54.38	30.26
Long Term Debt	52.16	65.58	10.01	12.50
Capital Lease Obligations	-	-	-	0.34
Total Long Term Debt	52.16	65.58	10.01	12.84
Total Debt	80.72	105.55	25.43	16.41
Deferred Income Tax	9.24	3.45	0.00	-
Minority Interest	-	-	14.92	13.25
Other Liabilities, Total	12.13	8.55	12.98	14.37
Total Liabilities	154.00	168.47	92.29	70.72
Redeemable Preferred Stock, Total	-	-	-	-
Preferred Stock - Non Redeemable, Net	-	-	-	-
Common Stock, Total	733.38	459.87	430.61	296.17
Additional Paid-In Capital	6.38	4.50	5.14	4.27
Retained Earnings (Accumulated Deficit)	-429.93	-331.16	-284.51	-244.45
Treasury Stock - Common	-	-	-	-
Other Equity, Total	26.24	19.38	29.85	28.29
Total Equity	336.08	152.59	181.09	84.29
Total Liabilities & Shareholders' Equity	490.08	321.06	273.37	155.01
Shares Outs - Common Stock Primary Issue	-	-	-	-
Total Common Shares Outstanding	55.29	48.46	46.97	38.49

In Millions of USD (except for per share items)	3 months ending 2013-03-31	12 months ending 2012-12-31	9 months ending 2012-09-30	6 months ending 2012-06-30	3 months ending 2012-03-31
Net Income/Starting Line	-31.80	-98.77	-49.18	-20.27	-22.63
Depreciation/Depletion	3.60	11.39	8.25	5.29	2.48
Amortization	-	-	-	-	-
Deferred Taxes	-0.03	-0.41	-3.73	-2.88	0.37
Non-Cash Items	-0.88	-1.29	7.80	5.29	-1.35
Changes in Working Capital	-4.31	3.34	11.46	-9.22	-1.83
Cash from Operating Activities	-33.42	-85.73	-25.41	-21.80	-22.96
Capital Expenditures	-8.25	-31.35	-21.68	-14.54	-9.61
Other Investing Cash Flow Items, Total	20.14	-17.94	-22.54	-80.23	-64.02
Cash from Investing Activities	11.89	-49.29	-44.21	-94.77	-73.64
Financing Cash Flow Items	0.00	-8.13	-8.13	-8.13	-8.00
Total Cash Dividends Paid	-	-	-	-	-
Issuance (Retirement) of Stock, Net	0.08	274.52	274.50	274.44	274.33
Issuance (Retirement) of Debt, Net	-1.81	-5.60	-5.60	-5.04	-0.05
Cash from Financing Activities	-1.72	260.80	260.77	261.27	266.28
Foreign Exchange Effects	-0.01	-0.10	-3.60	-1.24	-1.03
Net Change in Cash	-23.27	125.67	187.56	143.47	168.66
Cash Interest Paid, Supplemental	1.57	3.53	3.91	2.08	1.64
Cash Taxes Paid, Supplemental	-0.11	1.98	21.53	14.16	0.00

In Millions of USD (except for per share items)	12 months ending 2012-12-31	9 months ending 2011-12-31	12 months ending 2011-03-31	12 months ending 2010-03-31
Net Income/Starting Line	-98.77	-45.79	-42.14	-29.48
Depreciation/Depletion	11.39	6.20	3.38	1.96
Amortization	-	-	-	-
Deferred Taxes	-0.41	-2.19	0.49	-1.37
Non-Cash Items	-1.29	-8.70	-0.56	4.18
Changes in Working Capital	3.34	-17.84	1.44	3.84
Cash from Operating Activities	-85.73	-68.32	-37.40	-20.86
Capital Expenditures	-31.35	-13.25	-3.17	-0.22
Other Investing Cash Flow Items, Total	-17.94	31.82	-10.20	7.47
Cash from Investing Activities	-49.29	18.58	-13.37	7.25
Financing Cash Flow Items	-8.13	-1.39	-6.07	-7.73
Total Cash Dividends Paid	-	-	-	-
Issuance (Retirement) of Stock, Net	274.52	1.82	134.56	64.06
Issuance (Retirement) of Debt, Net	-5.60	-22.17	-3.32	-2.59
Cash from Financing Activities	260.80	-21.75	125.17	53.74
Foreign Exchange Effects	-0.10	3.25	3.12	2.33
Net Change in Cash	125.67	-68.25	77.51	42.46
Cash Interest Paid, Supplemental	3.53	1.35	1.73	1.54
Cash Taxes Paid, Supplemental	1.98	1.47	0.84	9.08