Actionable news
All posts from Actionable news
Actionable news in FSYS: Fuel Systems Solutions, Inc.,

Fuel Systems Solutions, Inc. Reports Preliminary Third Quarter 2015 Results

The following excerpt is from the company's SEC filing.

Expects to File Form 12b-25 for Third Quarter 2015 Form 10-Q

Third Quarter Conference Call Canceled

-- Fuel Systems Solutions, Inc. (NASDAQ: FSYS) today announced that it expects to delay the announcement of its third quarter financial results and that it expects to file a notification of late filing (Form 12b-25) for its Quarterly Report on Form 10-Q for the period ended September 30, 2015. In connection with the Company’s pending merger with Westport Innovations Inc., an analysis must be performed to determine whether the Company may be required to record an asset impairment charge. Therefore, the Company is cancelling its conference call scheduled for November 9

and does not expect to conduct a third quarter 2015 conference call. The Company will issue an earnings release and file its Form 10-Q for the period ended September 30, 2015 once the impairment analysis is completed.

To provide information in the interim, Fuel Systems preliminarily announces that it expects third quarter 2015 revenue of approximately $65.5 million and gross profit margin of approximately 23%.

Forward-looking Statements

This press release contains certain forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These statements are not historical facts, but instead involve known and unknown risks, uncertainties and other factors that may cause our Company’s actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward looking statements. Statements in this press release that are not historical facts are hereby identified as “forward-looking statements” for the purpose of the safe harbor provided by Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Words such as: “may,” “will,” “would,” “should,” “could,” “expect,” “anticipate,” “intend,” “plan,” “believe,” “estimate,” “predict,” “potential,” “continue,” “seeks,” “on-going” or the negative of these terms or other comparable terminology often identify forward-looking statements, although...