diff --git a/src/Mustache/Engine.php b/src/Mustache/Engine.php
index e843d1e..38c05c9 100644
--- a/src/Mustache/Engine.php
+++ b/src/Mustache/Engine.php
@@ -605,12 +605,18 @@ class Mustache_Engine
      * This method must be updated any time options are added which make it so
      * the same template could be parsed and compiled multiple different ways.
      *
-     * @param string $source
+     * @param string|Mustache_Source $source
      *
      * @return string Mustache Template class name
      */
     public function getTemplateClassName($source)
     {
+        if ($source instanceof Mustache_Source) {
+            $key = $source->getKey();
+        } else {
+            $key = sprintf('source:%s', $source);
+        }
+
         // For the most part, adding a new option here should do the trick.
         //
         // Pick a value here which is unique for each possible way the template
@@ -629,7 +635,7 @@ class Mustache_Engine
             'version'         => self::VERSION,
         );
 
-        return $this->templateClassPrefix . md5(json_encode($options) . "\n" . $source);
+        return $this->templateClassPrefix . md5(json_encode($options) . "\n" . $key);
     }
 
     /**
@@ -706,8 +712,8 @@ class Mustache_Engine
      * @see Mustache_Engine::loadPartial
      * @see Mustache_Engine::loadLambda
      *
-     * @param string         $source
-     * @param Mustache_Cache $cache  (default: null)
+     * @param string|Mustache_Source $source
+     * @param Mustache_Cache         $cache  (default: null)
      *
      * @return Mustache_Template
      */
@@ -775,13 +781,12 @@ class Mustache_Engine
      *
      * @see Mustache_Compiler::compile
      *
-     * @param string $source
+     * @param string|Mustache_Source $source
      *
      * @return string generated Mustache template class code
      */
     private function compile($source)
     {
-        $tree = $this->parse($source);
         $name = $this->getTemplateClassName($source);
 
         $this->log(
@@ -790,6 +795,11 @@ class Mustache_Engine
             array('className' => $name)
         );
 
+        if ($source instanceof Mustache_Source) {
+            $source = $source->getSource();
+        }
+        $tree = $this->parse($source);
+
         $compiler = $this->getCompiler();
         $compiler->setPragmas($this->getPragmas());
 
diff --git a/src/Mustache/Loader.php b/src/Mustache/Loader.php
index c5e1a19..b8be775 100644
--- a/src/Mustache/Loader.php
+++ b/src/Mustache/Loader.php
@@ -21,7 +21,7 @@ interface Mustache_Loader
      *
      * @param string $name
      *
-     * @return string Mustache Template source
+     * @return string|Mustache_Source Mustache Template source
      */
     public function load($name);
 }
diff --git a/src/Mustache/Loader/ProductionFilesystemLoader.php b/src/Mustache/Loader/ProductionFilesystemLoader.php
new file mode 100644
index 0000000..a79b6f4
--- /dev/null
+++ b/src/Mustache/Loader/ProductionFilesystemLoader.php
@@ -0,0 +1,40 @@
+<?php
+
+/*
+ * This file is part of Mustache.php.
+ *
+ * (c) 2010-2015 Justin Hileman
+ *
+ * For the full copyright and license information, please view the LICENSE
+ * file that was distributed with this source code.
+ */
+
+/**
+ * Mustache Template production filesystem Loader implementation.
+ *
+ * A production-ready FilesystemLoader, which doesn't require reading a file if it already exists in the template cache.
+ *
+ * {@inheritdoc}
+ */
+class Mustache_Loader_ProductionFilesystemLoader extends Mustache_Loader_FilesystemLoader
+{
+    /**
+     * Helper function for loading a Mustache file by name.
+     *
+     * @throws Mustache_Exception_UnknownTemplateException If a template file is not found.
+     *
+     * @param string $name
+     *
+     * @return Mustache_Source Mustache Template source
+     */
+    protected function loadFile($name)
+    {
+        $fileName = $this->getFileName($name);
+
+        if (!file_exists($fileName)) {
+            throw new Mustache_Exception_UnknownTemplateException($name);
+        }
+
+        return new Mustache_Source_FilesystemSource($fileName);
+    }
+}
diff --git a/src/Mustache/Source.php b/src/Mustache/Source.php
new file mode 100644
index 0000000..3eded91
--- /dev/null
+++ b/src/Mustache/Source.php
@@ -0,0 +1,32 @@
+<?php
+
+/*
+ * This file is part of Mustache.php.
+ *
+ * (c) 2010-2015 Justin Hileman
+ *
+ * For the full copyright and license information, please view the LICENSE
+ * file that was distributed with this source code.
+ */
+
+/**
+ * Mustache template Source interface.
+ */
+interface Mustache_Source
+{
+    /**
+     * Get the Source key (used to generate the compiled class name).
+     *
+     * @throws RuntimeException when a source file cannot be read
+     *
+     * @return string
+     */
+    public function getKey();
+
+    /**
+     * Get the template Source.
+     *
+     * @return string
+     */
+    public function getSource();
+}
diff --git a/src/Mustache/Source/FilesystemSource.php b/src/Mustache/Source/FilesystemSource.php
new file mode 100644
index 0000000..c54a406
--- /dev/null
+++ b/src/Mustache/Source/FilesystemSource.php
@@ -0,0 +1,64 @@
+<?php
+
+/*
+ * This file is part of Mustache.php.
+ *
+ * (c) 2010-2015 Justin Hileman
+ *
+ * For the full copyright and license information, please view the LICENSE
+ * file that was distributed with this source code.
+ */
+
+/**
+ * Mustache template Filesystem Source.
+ *
+ * This template Source uses stat() to generate the Source key, so that using
+ * pre-compiled templates doesn't require hitting the disk to read the source.
+ * It is more suitable for production use, and is used by default in the
+ * ProductionFilesystemLoader.
+ */
+class Mustache_Source_FilesystemSource implements Mustache_Source
+{
+    private $stat;
+    private $filename;
+
+    /**
+     * Filesystem Source constructor.
+     *
+     * @param string $filename
+     */
+    public function __construct($filename)
+    {
+        $this->filename = $filename;
+    }
+
+    /**
+     * Get the Source key (used to generate the compiled class name).
+     *
+     * @throws RuntimeException when a source file cannot be read
+     *
+     * @return string
+     */
+    public function getKey()
+    {
+        if (!isset($this->stat)) {
+            $this->stat = stat($this->filename);
+        }
+
+        if ($this->stat === false) {
+            throw new RuntimeException(sprintf('Failed to read source file "%s".', $this->filename));
+        }
+
+        return sprintf('filename:%s,size:%s,mtime:%s', $this->filename, $this->stat['size'], $this->stat['mtime']);
+    }
+
+    /**
+     * Get the template Source.
+     *
+     * @return string
+     */
+    public function getSource()
+    {
+        return file_get_contents($this->filename);
+    }
+}
diff --git a/test/Mustache/Test/EngineTest.php b/test/Mustache/Test/EngineTest.php
index e8743d7..eb5a27a 100644
--- a/test/Mustache/Test/EngineTest.php
+++ b/test/Mustache/Test/EngineTest.php
@@ -331,6 +331,15 @@ class Mustache_Test_EngineTest extends Mustache_Test_FunctionalTestCase
         ));
     }
 
+    public function testCompileFromMustacheSourceInstance()
+    {
+        $baseDir = realpath(dirname(__FILE__) . '/../../fixtures/templates');
+        $mustache = new Mustache_Engine(array(
+            'loader' => new Mustache_Loader_ProductionFilesystemLoader($baseDir),
+        ));
+        $this->assertEquals('one contents', $mustache->render('one'));
+    }
+
     private function getLoggedMustache($level = Mustache_Logger::ERROR)
     {
         $name     = tempnam(sys_get_temp_dir(), 'mustache-test');
diff --git a/test/Mustache/Test/Loader/ProductionFilesystemLoaderTest.php b/test/Mustache/Test/Loader/ProductionFilesystemLoaderTest.php
new file mode 100644
index 0000000..300b6e8
--- /dev/null
+++ b/test/Mustache/Test/Loader/ProductionFilesystemLoaderTest.php
@@ -0,0 +1,82 @@
+<?php
+
+/*
+ * This file is part of Mustache.php.
+ *
+ * (c) 2010-2015 Justin Hileman
+ *
+ * For the full copyright and license information, please view the LICENSE
+ * file that was distributed with this source code.
+ */
+
+/**
+ * @group unit
+ */
+class Mustache_Test_Loader_ProductionFilesystemLoaderTest extends PHPUnit_Framework_TestCase
+{
+    public function testConstructor()
+    {
+        $baseDir = realpath(dirname(__FILE__) . '/../../../fixtures/templates');
+        $loader = new Mustache_Loader_ProductionFilesystemLoader($baseDir, array('extension' => '.ms'));
+        $this->assertInstanceOf('Mustache_Source', $loader->load('alpha'));
+        $this->assertEquals('alpha contents', $loader->load('alpha')->getSource());
+        $this->assertInstanceOf('Mustache_Source', $loader->load('beta.ms'));
+        $this->assertEquals('beta contents', $loader->load('beta.ms')->getSource());
+    }
+
+    public function testTrailingSlashes()
+    {
+        $baseDir = dirname(__FILE__) . '/../../../fixtures/templates/';
+        $loader = new Mustache_Loader_ProductionFilesystemLoader($baseDir);
+        $this->assertEquals('one contents', $loader->load('one')->getSource());
+    }
+
+    public function testConstructorWithProtocol()
+    {
+        $baseDir = realpath(dirname(__FILE__) . '/../../../fixtures/templates');
+
+        $loader = new Mustache_Loader_ProductionFilesystemLoader('file://' . $baseDir, array('extension' => '.ms'));
+        $this->assertEquals('alpha contents', $loader->load('alpha')->getSource());
+        $this->assertEquals('beta contents', $loader->load('beta.ms')->getSource());
+    }
+
+    public function testLoadTemplates()
+    {
+        $baseDir = realpath(dirname(__FILE__) . '/../../../fixtures/templates');
+        $loader = new Mustache_Loader_ProductionFilesystemLoader($baseDir);
+        $this->assertEquals('one contents', $loader->load('one')->getSource());
+        $this->assertEquals('two contents', $loader->load('two.mustache')->getSource());
+    }
+
+    public function testEmptyExtensionString()
+    {
+        $baseDir = realpath(dirname(__FILE__) . '/../../../fixtures/templates');
+
+        $loader = new Mustache_Loader_ProductionFilesystemLoader($baseDir, array('extension' => ''));
+        $this->assertEquals('one contents', $loader->load('one.mustache')->getSource());
+        $this->assertEquals('alpha contents', $loader->load('alpha.ms')->getSource());
+
+        $loader = new Mustache_Loader_ProductionFilesystemLoader($baseDir, array('extension' => null));
+        $this->assertEquals('two contents', $loader->load('two.mustache')->getSource());
+        $this->assertEquals('beta contents', $loader->load('beta.ms')->getSource());
+    }
+
+    /**
+     * @expectedException Mustache_Exception_RuntimeException
+     */
+    public function testMissingBaseDirThrowsException()
+    {
+        new Mustache_Loader_ProductionFilesystemLoader(dirname(__FILE__) . '/not_a_directory');
+    }
+
+    /**
+     * @expectedException Mustache_Exception_UnknownTemplateException
+     */
+    public function testMissingTemplateThrowsException()
+    {
+        $baseDir = realpath(dirname(__FILE__) . '/../../../fixtures/templates');
+        $loader = new Mustache_Loader_ProductionFilesystemLoader($baseDir);
+
+        $loader->load('fake');
+    }
+}