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SANTA ANA - Fuel Systems Solutions Inc. on Thursday reported a third-quarter profit as the maker of systems that allow vehicles to run on alternative fuels saw improvement in its transportation segment.
Net income for the quarter was $11.9 million, or 75 cents per share, compared with a loss of $359,000, or 2 cents per share, a year ago.
Revenue increased about 62 percent to $105.5 million from $65.2 million on strong sales to original equipment manufacturers as well as aftermarket customers.
Analysts surveyed by Thomson Reuters were expecting a profit of 26 cents per share on revenue of $85.5 million.
The company boosted its full-year revenue outlook for the second straight quarter. Fuel Systems raised it projection for 2008 revenue to $385 million from $350 million.
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