Fuel Systems Solutions Inc. (FSYS) reported that net loss for the fourth quarter of 2012 was $21.0 million, or $1.05 per share, compared to net income of $1.4 million, or $0.07 per share, in the fourth quarter of 2011.
The company recorded a fourth quarter 2012 non-cash goodwill and asset impairment charge of $22.0 million, comprised of a goodwill impairment of $9.9 million and a write-down of long-lived assets of $12.1 million relating to the US Automotive and AFS operations.
Excluding non-cash charge and its associated tax benefit of $ 0.9 million, the company recorded fourth quarter 2012 net income of $0.2 million or $0.01 per share.
Revenue for the fourth quarter of 2012 was $98.0 million compared to $111.0 million in the fourth quarter of 2011.
On average, 8 analysts polled by Thomson Reuters expected the company to report a loss of $0.03 per share on revenues of $89.03 million for the quarter. Analysts' estimates typically exclude special items.
The company expects full year 2013 revenue to be between $400 million and $420 million, 2013 gross margin of 21% to 23%, and 2013 operating margin of 2% to 4%. Analysts expect the company to report revenues of $408.30 million for fiscal 2013.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.