ABJ – Aug 12 – Clean Diesel Technologies, Inc., a cleantech emissions reduction company of Ventura, Calif., has announced its financial results for the second quarter ending June 30.

Total revenue for the second quarter of 2011 was $11.5 million, a decrease of $1.4 million, down 10.8 per cent, for the same quarter in 2010. Total revenue includes $800,000 from legacy Clean Diesel business as a result of the merger.

Revenue for Clean Diesel's Heavy Duty Diesel Systems division for the quarter increased $1.3 million, or 15.6 per cent, to $9.6 million.

The remaining growth in revenue was driven primarily by an increase in early incentive sales pertaining to the California Air Resources Board Truck and Bus program. Clean Diesel expects sales in this division to be higher in the third quarter of 2011 compared to the same quarter in 2010, as well as higher than the second quarter of 2011, as anticipated sales in the London Low Emission Zone are expected to gain momentum.

Revenue for Clean Diesel's Catalyst division for the quarter decreased $1.4 million, or 29.5 per cent, to $3.4 million, primarily due to an automaker accelerating the manufacture of a vehicle that requires a catalyst product meeting a higher regulatory standard than the product Clean Diesel currently supplies to the automaker and lower sales to a customer impacted by the earthquake and tsunami in Japan.

This decrease was partially offset by higher intercompany catalyst sales, which are eliminated in consolidation, and growth in sales to a new automaker customer. Clean Diesel anticipates revenues in its Catalyst division to be higher in the third quarter of 2011 compared to the same quarter in 2010, as well as higher than the second quarter of 2011, as it expects intercompany sales of Catalyst products to increase, the return to normal operations in August of a customer that was impacted by events in Japan, as well as continued sales to the new automaker customer.

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