We’ve advised a position at $22.5 on June 2, 2009. The returns are already significant, with the stock breaching $30 on high volume after earnings came in much better than expected…
We don’t think things are over yet, this is one of those shares you have to lay on the shelves, checking in from time to time whether the company is still performing according to plan. The potential market is significant.
UPDATE 1-Fuel Systems Q2 beats Street; raises ’09 revenue view
Thu Aug 6, 2009 5:03pm EDT
* Q2 EPS $0.46 vs. est $0.32
* Q2 rev $92.3 mln vs. est $87.8 mln
* Raises ’09 revenue outlook
* Shares jump 8 pct after the bell
Aug 6 (Reuters) – Fuel Systems Solutions Inc (FSYS.O), an alternative fuel components maker, posted better-than-expected quarterly results, helped by a rise in demand for its delayed original equipment manufacturer products, and it raised its revenue outlook for the full year.
Shares of the company rose 8 percent to $29 in trading after the bell. They closed at $26.82 Thursday on Nasdaq.
The company posted second-quarter earnings of $7.4 million, or 46 cents a share, compared with $4.6 million, 29 cents a share, a year earlier.
Revenue fell 6 percent to $92.3 million.
Analysts on average were expecting earnings of 32 cents a share, on revenue of $87.8 million, according to Reuters Estimates.
The company raised its full-year revenue outlook to a range of $370 million to $380 million from its previous forecast of $330 million to $360 million. (Reporting by Amulya Nagaraj in Bangalore; Editing by Deepak Kannan)