Investment gains from the sale of shares in Clean Energy Fuels Corp. helped Vancouver's Westport Innovations Inc. (TSX:WPT) realize a profit in its second quarter ending September 30, 2008.
Westport's net profit rose to $700,000 compared with a net loss of $4.9 million in 2007's second quarter. The Clean Energy share sale yielded a $9.6 million gain for Westport.
A significant increase in sales of the company's alternative fuel engine systems helped Westport post an 84% quarterly revenue increase to $39 million from $21.2 million. It shipped almost 1,400 units in the second quarter compared with 845 units in the same period last year.
Westport's share price range during the past week: between $5.71 and $7.35; 52-week high: $19.64; 52-week low: $4.08.