Fuel Systems (FSYS -12.5%) gets hit on a disappointing Q3 report as its EPS swings to a loss on...

|About: Fuel Systems Solutions, Inc. (FSYS)|By:, SA News Editor

Fuel Systems (FSYS -12.5%) gets hit on a disappointing Q3 report as its EPS swings to a loss on higher tax expenses and operational costs. Gross profit declined 5% Y/Y, due to lower margins in the U.S. automotive business, plus a one-time write off of relocation expenses. The company says the pressure on its margins is ongoing into the current quarter, and lowers its outlook for FY11 to the bottom end of its range.