Fuel Systems Solutions (FSYS) is expanding the reach of its liquid propane gas kits by signing a non-exclusive distribution agreement with CleanFUEL USA who will market and sell the EPA certified kits for converting GM and Ford vehicles to run on the liquid propane.
Matthew Beale, Fuel Systems’ President and CFO, said, “Signing this agreement with CleanFUEL USA, an established player in the LPG alternative fuel vehicle market, is another step forward in our U.S. … Read the rest
Fuel Systems Solutions Inc just announced that it has finished buying some some assets and some CNG technology from FuelMaker Corporation, including a home CNG refueling appliance. Fuel Systems Solutions bought the technology for $7 million and also agreed to take over some of FuelMaker’s service operations and outstanding purchase orders.
In a company press release, Mariano Costamagna, CEO of Fuel Systems Solutions, commented on the purchase:
"We are excited to begin integrating our … Read the rest
Last quarter expectations were much too high for the former high flyer, Fuel Systems Solutions (FSYS). The company didn’t match those lofty expectations and the stock has taken a beating. Now that analysts have very little expectations of the company it doesn’t take much to beat and beat they did after the bell today. The company reported an EPS of .44/share which was more than double what analysts had expected. Let’s not get carried away … Read the rest
Fuel Systems Solutions (FSYS) has announced that it is acquiring assets and technology for compressed natural gas (CNG) products from FuelMaker for $7 million, which includes a home refueling appliance marketed under the Phill brand. The deal is expected to close sometime this quarter.
Here’s a good video highlighting the Phill system.. great move from FSYS.
Fuel Systems Solutions (FSYS) is down more than 25% after reporting an EPS of just .04/share which missed estimates by .38/share and represents an 87% plunge from the year ago quarter. Revenues were equally disappointing at $84 million which is nearly flat growth over the year ago quarter.
Executive comments seemed to brush aside the bad quarter, choosing to focus on the overall growth of 2008 and optimism for 2009. “2008 was a transformational year,” … Read the rest
Fuel Systems Solutions just announced that it has expanded the engine building capabilities of its subsidiary, IMPCO. Improvements to IMPCO’s manufacturing facility in Sterling Heights, MI will allow the company to support Fuel Systems Solutions’ new next generation direct injection industrial fuel system, which is compliant with 2010 emissions standards.
Richard Nielsen, IMPCO’s general manager, commented on the improvements at the plant:
"Our industry and demand for our products is driven by many factors including … Read the rest
Fuel Systems Solutions, Inc. announced today that it will be acquiring Distribuidora Shopping S.A. through its Italian subsidiary MTM S.r.L.. Distribuidora Shipping makes the Tomasetto Achille brand components for compressed natural gas vehicles. The deal, which should be completed in January, is for $22 million, "subject to adjustment for any closing indebtedness." Also, under the agreements shareholders will receive $10.0 million of Fuel Systems common stock.
Matthew Beale, Fuel Systems Solutions’ president, commented on the … Read the rest
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 … Read the rest
American Technology Research Reinstated coverage today on a few alternative energy plays during the trading day today:
* Aventine Renewable (AVR) with a Neutral rating and price target of $3
* VeraSun (VSE) with a Neutral rating and price target of $2.25
* Fuel Systems Solutions (FSYS) get a Buy rating and a price target of $45 (it’s getting interesting down here, but I’d like to see it come back and test the area around … Read the rest
Fuels Systems Solutions (FSYS) crushed analyst estimates and reported an EPS of .54/share (double analyst estimates) on revenues of 98.3 million. EPS increased 18 fold over the year ago quarter while revenues increased 50% in the same time period. The company raised 08 revenue guidance 9% and increased margin forecasts and the stock is soaring as a result up more than 20% and breaking to new all time highs. Mighty be big risk up here … Read the rest