Clean Diesel Technologies,
Inc. CDTI, a cleantech emissions reduction company,
announced today its financial results for the fourth quarter and fiscal year
ended December 31, 2011. The highlights are as follows:
o Record fourth quarter revenue of $21.3 million, up 80.5% year over year
o Income from operations of $0.2 million in fourth quarter 2011 compared to
loss from operations of $3.9 million in 2010
o Record fiscal year 2011 revenue of $61.6 million, up 28.0% year over year
"Fourth quarter revenue exceeded our expectations, recording growth of over
80%," said Craig Breese, Chief Executive Officer of Clean Diesel. "Sales in
our Heavy Duty Diesel Systems division more than doubled compared to the prior
year quarter. This was led by strong sales, both in the London Low Emission
Zone ("LEZ") and the North America retrofit market. Meanwhile, external sales
for our Catalyst division grew more than 17% compared to the prior-year
quarter.
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