August 6, 2009 / 9:44 PM / 9 years ago

UPDATE 1-Westport Innovations posts wider-than-expected Q1 loss

* Q1 loss/shr C$0.29 vs est. loss/shr C$0.27

* Q1 rev down 2.7 pct at C$24.9 mln

Aug 6 (Reuters) - Canada’s Westport Innovations Inc WPT.TO posted a wider-than-expected quarterly loss, mainly on reduced demand for its low-emission engines in the Americas.

For the first quarter ended June 30, the company posted net loss of C$9.2 million ($8.54 million), or 29 Canadian cents a share, compared with a net loss of C$3.5 million, or 13 Canadian cents a share, a year ago.

Revenue fell 2.4 percent to C$24.9 million.

Analysts on average expected a loss of 27 Canadian cents, excluding items, on revenue of C$28.26 million, according to Reuters Estimates.

The company, which provides natural-gas engines serving the medium and heavy-duty vehicle markets, said shipments of its CWI engine units fell to 608 in the quarter, from 1,077 units last year.

Chief Financial Officer Elaine Wong would be changing her role to focus on strategic development activities, Wesport said. She would continue to hold the position, while the company recruits a replacement, the company said.

Shares of the Vancouver, British Columbia-based company closed at C$9.57 Thursday on the Toronto Stock Exchange. ($1=1.077 Canadian Dollar) (Reporting by Ashutosh Joshi in Bangalore; Editing by Unnikrishnan Nair)

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