Fuel Systems Solutions Q4 Loss Widens - Quick Facts

(RTTNews) - Fuel Systems Solutions, Inc. (FSYS) reported a fourth-quarter net loss to company of $4.01 million or $0.20 per share, compared to a loss of $3.35 million or $0.16 per share, prior year.

On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.20 for the quarter. Analysts' estimates typically exclude special items. Revenue decreased to $85.36 million from $92.57 million last year. Analysts expected revenue of $74.92 million for the quarter.

Fuel Systems Solutions announced that it has begun a plan of operational restructuring planned to be completed by year-end 2017. The elements of the plan include: Cost optimization - reduction of direct material costs through increased global sourcing and purchasing as well as centralized buying practices; Organizational optimization - additional right-sizing of the company's workforce; and Manufacturing footprint optimization - consolidation of certain manufacturing facilities, as well as consideration of alternative sales and distribution models in certain local markets.

For 2015, the company expects: revenue to be in the range of between $300.0 million to $310.0 million, and EBITDA to be between $10.0 million and $15.0 million. Analysts expect the company to report 2015 revenue of $342.72 million.