December 6, 2010 / 9:57 PM / 9 years ago

UPDATE 1-Fuel Systems cuts 2010 revenue outlook

* Cuts FY 2010 revenue outlook to $420-$430 million

* Commences 2 mln share offering

* Shares down 4 pct after market

Dec 6 (Reuters) - Fuel Systems Solutions FSYS.O, a maker of alternative-fuel components, cut its 2010 revenue outlook, as it expects lower European automotive purchases in the fourth quarter, sending its shares down 4 percent.

The maker of components and systems that control the pressure and flow of gaseous alternative fuels expects 2010 sales of $420-$430 million, compared with its previous forecast of $425-$450 million.

Analysts were expecting $440.6 million, according to Thomson Reuters I/B/E/S.

Fuel Systems, which has a market value of about $627.1 million, is shifting its focus to the Asian and Latin American markets.

Separately, the company said it commenced a public offering of 2 million common shares.

Shares of the company were down 4 percent at $35.08 in extended trade. (Reporting by Fareha Khan in Bangalore; Editing by Vinu Pilakkott)

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