Shares of Fuel Systems Solutions (FSYS) soared 28% on Friday as the company took advantage of “the rapidly expanding demand for alternatives to petroleum to fuel vehicles.”

For its second quarter, the company reported earnings per share of 29 cents, beating the consensus estimate of 26 cents. Revenue jumped 50% to $98.3 million from $65.6 million a year earlier.

The company even raised its full year revenue outlook to $350 million.

FSYS makes products that allow for internal combustion engines to operate on natural gas. Such innovations are in high demand given soaring energy prices. Earnings estimates for this year are up 17.2% in two months. Analysts expect next year’s earnings to be about 27.4% better than this year’s.

There are currently only 2 analysts covering this company, suggesting that there’s plenty of room for more coverage in the future, especially if FSYS can continue putting together strong quarterly performances.

“FSYS” Free Stock Analysis: Buy? Sell? Hold?
Zacks Investment Research

Last 5 posts by Zacks Market Commentaries

• Statoil Gaining Impetus at St Malo - Zacks Tale of the Tape - March 12th, 2010
• Statoil Gaining Impetus at St Malo - Analyst Blog - March 12th, 2010
• Pall Corporation Slips - Zacks Tale of the Tape - March 12th, 2010
• Pall Corporation Slips - Analyst Blog - March 12th, 2010
• Exxon Raises Outlook - Zacks Tale of the Tape - March 12th, 2010