Fuel Systems Solutions (FSYS) Reports Blow Out Earnings

Fuel Systems Solutoins (FSYS) which provides conversion kits for cars to run on natural gas reported a blow out quarter after the bell today, posting .75/share in earnings which nearly tripled analyst estimates and represents a 369% increase over the year ago quarter.  Revenues climbed 61.8% over the year ago quarter to 105.5 million. 

FSYS CEO said, “Even with recent energy price volatility, during the third quarter, Fuel Systems Solutions achieved 62 percent revenue growth, compared to the same period last year, driven by strong performance in our OEM and aftermarket transportation markets segments. … While the global economic slowdown impacts near-term revenue visibility, we remain optimistic regarding the prospects for sustained organic growth in our markets. Our financial strength positions us to invest in incremental growth opportunities in existing and adjacent business segments and to further leverage our production and engineering platform across industrial and transportation end-user markets.”

Shares are soaring after hours, up nearly 20%

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