Fuel Systems Solutions Falls 11% On Revenue Miss (FSYS)

Shares of Fuel Systems Solutions, Inc.

are trading down 11.6% at $37.55 per share during the Thursday afternoon trading session. The day's trading range for shares of Fuel Systems Solutions, Inc has been between $37.30 and $40.27 per share. Analysts covering the company's stock give it a consensus price target of $38.33 per share. Volume of 1.2 million shares is 4 times the daily average volume of 304,000 shares. Fuel Systems Solutions, Inc. (

) announced on Thursday morning that it beat consensus Wall Street earnings expectations but missed revenue estimates. Fuel Systems Solutions, Inc announced 3rd quarter earnings per share of 29 cents, on revenue of $86.1 million. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 27 cents per share, on revenue of $94.74 million. CEO Mariano Costamagna said, "We achieved third quarter revenue of $86.1 million and maintained gross margins of 29% as improvements in our Industrial business, buoyed by strength in Asia and our other IMPCO markets, helped counteract the impact of seasonality and softer new vehicle market demand in Europe." Read more