Westport Innovations Inc. (NASDAQ:WPRT) Q1 2019 Earnings Conference Call - Final Transcript

May 09, 2019 • 04:30 pm ET


Westport Innovations Inc. (NASDAQ:WPRT) Q1 2019 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Thank you for standing by. This is the conference operator. Welcome to the Westport Fuel Systems First Quarter 2019 Financial Results Conference Call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. (Operator Instructions).

I would now like to turn the conference over to Shawn Severson with alphaDIRECT Advisors, Westport's Investor Relations representative. Please go ahead, Mr. Severson.

Shawn Severson

Thank you, and good afternoon, everyone. Welcome to Westport Fuel Systems first quarter conference call, which is being held to coincide with the press release containing Westport Fuel Systems financial results that was distributed this afternoon. On today's call, speaking on behalf of Westport Fuel Systems, is Chief Executive Officer, David Johnson, and Acting Chief Financial Officer, Jim MacCallum. Attendance at this call is open to the public and to media, but questions will be restricted to the investment community.

You are reminded that certain statements made in this conference call and our responses to various questions may constitute forward-looking statements within the meaning of the US and applicable Canadian securities law and, as such, forward-looking statements are made based on our current expectations and involve certain risks and uncertainties. Actual results may differ materially from those projected in the forward-looking statements, so you are cautioned not to place undue reliance on these statements. Information contained in this conference call is subject to, and qualified in its entirety, by information contained in the Company's public filings.

I will now turn the call over to David. David?

David M. Johnson

Thank you, Shawn. And thank you all for joining the Westport Fuel Systems Q1 2019 conference call. I'm pleased to share our Q1 2019 financial results and also talk to you about our key drivers advancing the clean transportation industry globally, discuss how those forces are impacting our business.

Our strong Q1 results are a validation of our strategy. They are the latest proof point that stringent emission regulations and increasingly urgent call for action on urban air quality and climate change are advancing the deployment of alternative fuel vehicles. Our market-ready solutions align well with the market's need for clean, cost-effective transportation and enable us to respond directly to our OEM customers, partners and to consumers. We're encouraged by how the market for clean transportation is developing, and by the demand we are seeing for our products.

Since our prior earnings call, I've had the opportunity to meet with even more employees, partners, customers, suppliers and shareholders around the world. Next, I'm on to South America, Japan and then back to Europe. Our Westport Fuel Systems team is committed to deliver clean, market-ready, cost-competitive technology to transportation customers around the world. Given the Company's long legacy, it is particularly rewarding to see that our entrepreneurial, research and product development efforts have created a diverse portfolio of products that we sell in nearly 70 countries for applications from small single cylinder engines to large engines for commercial vehicles. As a