Why Westport Innovations (WPRT) Stock Is SkyrocketingToday

NEW YORK (TheStreet) -- Westport Innovations (WPRT) shares are up 17.4% to $15.18 on Friday following the release of the company's first quarter earnings report.

The fuel systems technology provider posted a year over year quarterly revenue increase of 39% to $41.9 million, beating analysts estimates of $41.3 million.

The company also showed signs of moving towards making a profit by narrowing its net income loss to $23.9 million, or -38 cents per share, from Q1 2013's loss of $31.8 million, or -57 cents per share last year.

The 38 cents per share net loss beat analysts estimates by 3 cents.

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