Last $10.84 USD
Change Today +0.11 / 1.03%
Volume 86.6K
As of 8:10 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

fuel systems solutions inc (FSYS) Snapshot

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52 Week High
03/4/14 - $13.33
52 Week Low
10/27/14 - $8.00
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fuel systems solutions inc (FSYS) Details

Fuel Systems Solutions, Inc. designs, manufactures, and supplies alternative fuel components and systems for use in the transportation, industrial, and power generation industries worldwide. The company operates through two segments, FSS Automotive and FSS Industrial. Its components and systems control the pressure and flow of gaseous alternative fuels, such as propane and natural gas used in internal combustion engines. The company offers a range of components, systems, and solutions, including fuel delivery products, such as pressure regulators, fuel injectors, and flow control valves and other components designed to control the pressure, flow, and/or metering of gaseous fuels; electronic controls comprising solid-state components and proprietary software that monitor and optimize fuel pressure, and flow to meet manufacturers’ engine requirements; and gaseous fueled internal combustion engines that are integrated with its fuel delivery and electronic controls. It also provides systems integration support services to integrate the gaseous fuel storage, fuel delivery, and/or electronic control components and sub-systems; auxiliary power systems for truck and diesel locomotives; and natural gas compressors and refueling systems for light and heavy duty refueling applications. The company sells its transportation products to automobile manufacturers, taxi companies, transit and shuttle bus companies, and delivery fleets; and industrial products to the manufacturers of industrial mobile and power generation equipment, stationary engines, and heavy duty trucks and buses. It offers its products through a network of distributors and dealers, as well as through a sales force network. Fuel Systems Solutions, Inc. was founded in 1958 and is based in New York, New York.

1,700 Employees
Last Reported Date: 03/14/14
Founded in 1958

fuel systems solutions inc (FSYS) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $667.2K
Chief Financial Officer
Total Annual Compensation: $366.5K
Compensation as of Fiscal Year 2013.

fuel systems solutions inc (FSYS) Key Developments

Fuel Systems Solutions, Inc. Announces Resignation of Roberto Olivo as Executive Director of Operations and Supply

On December 23, 2014, Roberto Olivo resigned from his position as Executive Director of Operations and Supply of Fuel Systems Solutions, Inc., effective December 31, 2014. In connection with his resignation from employment with the company, Mr. Olivo entered into a separation agreement and general release with the company.

Fuel Systems Solutions, Inc. Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Outlook for the Year 2014

Fuel Systems Solutions, Inc. reported unaudited consolidated earnings results for third quarter and nine months ended September 30, 2014. For the quarter, the company’s revenue was $85,077,000 against $97,573,000 a year ago. Operating loss was $1,389,000 against income of $1,624,000 a year ago. Net loss attributable to company was $3,207,000 or $0.16 per basic and diluted share against income of $1,032,000 or $0.05 per basic and diluted share a year ago. Total adjusted EBITDA was $2,072,000 against $5,327,000 a year ago. For the nine months, the company’s revenue was $253,764,000 against $307,268,000 a year ago. Operating loss was $51,579,000 against income of $7,582,000 a year ago. Net loss attributable to company was $49,403,000 or $2.46 per basic and diluted share against income of $2,887,000 or $0.14 per basic and diluted share a year ago. Net cash provided by operating activities was $9,524,000 against $9,845,000 a year ago. Purchase of equipment and leasehold improvements was $10,903,000 against $5,816,000 a year ago. Total adjusted EBITDA was $4,395,000 against $170,222,000 a year ago. The company now expects its full year 2014 revenue to be in the range of between $325 million to $335 million as continuing uncertainty exists relating to the timing of revenue recognition of a long-term contract in South America and the continuing weakening of the Euro. The expectation for 2014 gross margin continues to be in a range of 19% to 21%. Positive cash flow as defined by Adjusted EBITDA is expected to be between $1 million and $4 million, after incurring approximately $4 million in costs associated with the rationalizing of the workforce and facilities in Italy and the US. The company expects its effective tax rate for 2014 to be lower than in 2013.

Fuel Systems Solutions Announces Executive Changes

Fuel Systems Solutions, Inc. announced a number of governance changes. Effective immediately, Steven R. Becker, Partner and Co-Founder of Becker Drapkin Management, L.P., has been appointed as an independent member of the Fuel Systems Board of Directors. Mr. Becker will serve as a member of the Nominating and Corporate Governance Committee and as Chair of a Strategy Committee, which will comprise Mr. Becker, Troy A. Clarke, Marco Di Toro and James W. Nall. With Mr. Becker's appointment, the Fuel Systems Board will increase to eight members, seven of whom are independent. The Company also announced that Mr. Nall, who currently serves as the Board's Lead Independent Director, has been appointed Chairman of the Board.


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