Westport Reports Second Quarter Fiscal 2013 Financial Results

        Westport Reports Second Quarter Fiscal 2013 Financial Results

PR Newswire

VANCOUVER, Aug. 1, 2013

~ Cummins Westport and Weichai Westport Post Record Quarter Revenue; Westport
Reiterates Breakeven Target by End of 2014; Updates Revenue Outlook for 2013 ~

VANCOUVER, Aug. 1, 2013 /PRNewswire/ - Westport Innovations Inc. (TSX:WPT /
NASDAQ:WPRT), the global leader in natural gas engines, today reported
financial results for the second quarter ended June 30, 2013 and provided an
update on operations. All figures are in U.S. dollars unless otherwise stated.

Highlights include:

  *Westport revenue, excluding joint ventures' revenues, for the quarter
    ended June 30, 2013 was $34.9 million compared with $49.1 million for the
    same period last year. The prior quarter period included $14.1 million of
    service and other revenue recognized under OEM development agreements,
    including a one-time license revenue of $8.0 million.
  *Segment revenue for the quarter ended June 30, 2013 was: $25.2 million for
    Applied Technologies; $8.4 million for On-Road Systems; $1.3 million for
    Corporate and Technology Investments; $78.0 million for Cummins Westport
    Inc. (CWI) and $152.5 million for Weichai Westport Inc. (WWI).
  *Westport revenue plus CWI revenue for the quarter ended and six months
    ended June 30, 2013 was $112.9 million and $187.6 million, respectively,
    compared with $106.1 million and $194.7 million, respectively, for the
    same period last year.
  *In the second quarter of 2013, CWI shipped 2,716 units and WWI shipped
    12,410 units.
  *For the quarter ended June 30, 2013 Westport reported a net loss of $33.9
    million, or $0.61 loss per share, compared with $6.1 million, or $0.11
    loss per share, for the same period last year. The increase in net loss is
    primarily due to a reduction in service and other revenue described above
    of $12.8 million, or $0.23 per share; increased net investments in product
    development activities of $5.8 million, or $0.10 per share; and higher
    selling, general and administrative (SG&A) costs of $5.0 million, or $0.09
    per share, to support facilities expansion and resources globally, as well
    as OEM development efforts. Westport expects $6.0 million of research and
    development costs incurred during the quarter to be reimbursed upon
    completion of milestones.
  *Acquired BAF Technologies, Inc. (BAF) and its subsidiary, ServoTech
    Engineering, Inc. (ServoTech), from Clean Energy Fuels Corp. (Clean
    Energy) to expand Ford product portfolio and dealership coverage; and
    entered a new co-marketing agreement with Clean Energy to increase the
    penetration of natural gas vehicles.
  *Volvo Car Group unveiled its new Volvo V60 Bi-Fuel that will be launched
    in October in Sweden, and Westport will be supplying the natural gas fuel
    systems to Volvo Car Group.
  *Launched a liquefied natural gas (LNG) tender product solution with an
    order for four tenders from Canadian National Railway (CN).
  *Announced an agreement with GAZ Group to design and develop spark ignited
    natural gas systems for a new range of GAZ Group compressed natural gas
    (CNG) commercial vehicles utilizing Westport's new WP580 Engine Management
    System (EMS).

"Cummins Westport had a record quarter with $78.0 million in revenue, or a 38%
year-over-year growth, and shipped over 2,700 engines," said David Demers, CEO
of Westport. "CWI volume in North America grew by 25% with strength in all
segments but significant growth in trucking, including the launch of the
Cummins Westport ISX12 G in April. Interest in this new engine continues to be
strong as large fleets begin to test natural gas in their operations. This
opens up opportunities for the new Westport iCE PACK^TM LNG Tank System that
is optimized for spark-ignited engines. With the 400HP version of the Cummins
Westport ISX12 G in production this month, we expect CWI to see continued
strong growth in the trucking segment."

"International markets including China and Russia are also seeing strong
growth. Weichai Westport delivered another phenomenal quarter with nearly
12,500 engines shipped in the second quarter, and close to 21,000 engines
year-to-date. Revenue is up 144% so far in 2013 compared to the first two
quarters last year."

"Westport has progressed from a proof-of-concept company to a company with a
growing range of products and customers. We are optimizing a vertically
integrated approach with OEMs to achieve economies of scale in production with
Westport technology. We are negotiating supply agreements for Westport HPDI
products in the China market. To ensure Westport and its shareholders achieve
the best possible outcome, we expect to push the anticipated revenue for HPDI
in China beyond 2013. With the deferral of HPDI-based revenue in China
combined with the launch of the Cummins Westport ISX 12G in trucking, for
which we recognize the income stream only, we are changing Westport's revenue
outlook for 2013, excluding joint ventures' revenues, to $160 million to $180
million from the previous range of $180 to $200 million. That said, we have
not changed our outlook for breakeven on an EBITDA basis for our business
units by the end of 2014, and for Westport overall by 2015. As noted above,
Westport recognizes the income from the joint ventures, just not the revenue,
and expects the income stream to increase in coming quarters. As new products
expand our Westport portfolio and as critical mass begins to develop across
our markets we expect revenue to become less volatile."

"We welcome Nancy Gougarty as our newly appointed President and Chief
Operating Officer. Nancy brings great operating experience from her global
career in the automotive industry and we expect her leadership will help move
us quickly forward as we transition from our market creation phase to
profitable commercial operations."

Second Quarter Fiscal Year 2013 Financial Highlights

                        Three Months Ended % Change Six Months Ended % Change
                              June 30,                   June 30,
($ in millions, except     2013      2012              2013    2012
per share amounts)
Consolidated revenues        $    $    (29%)    $   $    (24%)
                              34.9     49.1              64.9    85.0
Consolidated gross             8.3     23.1    (64%)     16.3    31.9    (49%)
margin
Consolidated gross           23.8%    47.0%        -    25.1%   37.5%        -
margin percentage
Operating expenses            44.8     34.1      31%     84.3    66.1      28%
(Research and
development, general and
administrative and sales
and marketing)
Income from                    4.6      4.6        -      6.3    10.1    (38%)
unconsolidated joint
ventures
Consolidated adjusted       (27.8)    (3.6)     672%   (54.1)  (17.5)     209%
EBITDA (The
reconciliation of
adjusted EBITDA is
described below)
Total employees              1,169      935      25%    1,169     935      25%
Cash and short-term          135.3    276.0    (51%)    135.3   276.0    (51%)
investments balance
Net loss                    (33.9)    (6.1)     456%   (65.7)  (28.7)     129%
Net loss per share          (0.61)   (0.11)     455%   (1.18)  (0.54)     119%

  *Westport product revenue, excluding joint ventures' revenues, for the
    quarter ended June 30, 2013 was $32.5 million, a decrease of $1.8 million,
    or 5.2%, from $34.3 million for the quarter ended June 30, 2012. The
    decrease is primarily due to lower sales in Europe and Thailand, which
    affected the Applied Technologies business, partially offset by strength
    in China and Russia, and lower Westport 15L sales. Westport parts revenue
    for the quarter ended June 30, 2013 was $1.1 million, an increase of $0.4
    million, or 57%, from $0.7 million for the quarter ended June 30, 2012.
    Service and other revenue was $1.3 million for the quarter ended June 30,
    2013 compared with $14.1 for the same period last year, which the prior
    year period included a one-time license revenue of $8.0 million. Service
    revenue represents revenue earned under Westport's development agreements
    during the quarter.

  *Research and development expenses were $23.9 million for the quarter ended
    June 30, 2013, an increase of $5.8 million from $18.1 million in the same
    period last year. These expenses are focused on near-term product launches
    including the Westport iCE PACK LNG Tank System, Westport LNG Tender, and
    development of the Westport WP580 EMS; and product development agreements
    with global OEMs.

  *Selling, general and administrative expenses were $20.9 million for the
    quarter ended June 30, 2013, an increase of $5.0 million from $15.9
    million in the same period last year primarily due to an increase in
    resources, facilities and global market development activities.

  *Westport consolidated net loss for the quarter ended June 30, 2013
    increased due primarily to a reduction in service and other revenue of
    $12.8 million, or $0.23 per share; increased investments in product
    development activities of $5.8 million, or $0.10 per share; and higher
    SG&A costs of $5.0 million, or $0.09 per share, to support facilities
    expansion and resources globally, as well as OEM development efforts.
    Included in the net loss is a $3.4 million net foreign exchange gain
    attributed mainly to the movement in the Canadian dollar relative to the
    U.S. dollar, which is unrealized. Excluding this impact, Westport
    consolidated net loss and net loss per share for the quarter ended June
    30, 2013 was $37.3 million and $0.67, respectively.

  *For the quarter ended June 30, 2013, Westport reported a consolidated
    adjusted EBITDA loss of $27.8 million compared with a loss of $3.6 million
    in the prior year period. The increase in EBITDA loss is a result of lower
    service and other revenue and increased operating costs described above.
    The reconciliation of adjusted EBITDA is described below.

Financial Outlook for 2013
Based on a confluence of factors, Westport has changed its revenue outlook to
between $160 million and $180 million for the calendar year ended December 31,
2013. The factors include but are not limited to: uncertainty in product
launch timing in China; product mix in natural gas truck market favouring the
Cummins Westport ISX12 G compared to the Westport 15L product, which no
revenue is reported on the ISX12 G sales; the delay in 2013 incentives for
natural gas cars in Sweden; continued economic uncertainty in key markets; and
the launch of the Volvo V60 resulting in some customers deferring orders until
the new model is delivered. Westport's previous revenue outlook was between
$180 and $200 million for the calendar year ended December 31, 2013.

Applied Technologies Business Unit

Applied Technologies     Three Months Ended % Change Six Months Ended % Change
                                   June 30,                  June 30,
($ in millions)            2013      2012              2013    2012
Revenue                      $    $     (9%)    $   $     (5%)
                              25.2     27.8              48.5    51.1
Gross margin                   7.1      8.2    (13%)     13.7    14.8     (7%)
Gross margin percentage      28.2%    29.5%        -    28.2%   29.0%        -
Operating expenses             4.9      3.4      44%      9.7     7.2      35%
Segment operating             2.2      4.8    (54%)      4.0     7.6    (47%)
income *

*Segment operating income (loss) is calculated as gross margin less operating
expenses.

  *Applied Technologies revenue for the quarter ended June 30, 2013 was $25.2
    million, down $2.6 million from prior year period due primarily lower
    sales in Europe and Thailand, partially offset by increased sales in China
    and Russia.
  *Applied Technologies operating expenses for the quarter ended June 30,
    2013 increased by $1.5 million compared to the prior year period primarily
    related to higher research and development costs.
  *Segment operating income for the quarter ended June 30, 2013 was $2.2
    million, down $2.6 million as a result of the lower revenue and increased
    operating costs described above.

As part of product development efforts, Westport has begun to ship dual-fuel
kits for medium- and heavy-duty applications. A leading beverage company in
the Dominican Republic has integrated Westport's first dual-fuel kits in an
International truck chassis. Dual-fuel technology is appealing in medium- and
heavy-duty applications where natural gas infrastructure is not established.

Westport and GAZ Group, the leader of the Russian commercial vehicles market,
are working together to design and develop spark ignited natural gas systems
for GAZ's CNG buses, trucks, and commercial vehicles. Westport's new WP580 EMS
will be applied to GAZ's YaMZ-530 4.4L and 6.6L diesel engines and will
incorporate Westport proprietary components and technology. The first product
is on track for commercial production in 2014.

Built upon the long-standing relationship with Westport, Tata Motors, India's
largest automobile company, is also a key launch partner for the Westport
WP580 EMS for their CNG commercial vehicles. Westport is already supplying
Tata with the existing Westport WP560 EMS for certain medium-duty natural gas
buses. Tata's first CNG vehicle with the new Westport WP580 EMS will be
launched in 2014.

On-Road Systems Business Unit

On-Road Systems     Three Months Ended % Change Six Months Ended June % Change
                              June 30,                            30,
($ in millions)     2013       2012                2013       2012
Revenue           $ 8.4  $ 7.2      17% $ 14.1 $ 19.8    (29%)
Gross margin          (0.1)        0.8   (113%)        0.3        3.0    (90%)
Gross margin         (1.2%)      11.1%        -       2.1%      15.2%        -
percentage
Operating               9.3       11.5    (19%)       18.8       24.0    (22%)
expenses
Segment               (9.4)     (10.7)    (12%)     (18.5)     (21.0)    (12%)
operating loss

  *For competitive reasons, Westport will no longer disclose unit breakdown
    for the Westport 15L, WiNG Power System, and Volvo V70 bi-fuel systems. In
    the future Westport expects to provide unit counts on an aggregate market
    basis such as LNG trucks and automotive vehicles.
  *On-Road Systems gross margin and gross margin percentage for the quarter
    ended June 30, 2013 decreased primarily due to warranty provision
    increases on the Westport 15L product. Without these warranty adjustments,
    gross margin percentage would have been 17.9% for the three months and
    17.0% for the six months ended June 30, 2013.
  *On-Road Systems operating expenses for the quarter ended June 30, 2013
    decreased by $2.2 million or 19%.

At the NGV 2013 event in Gothenburg, Volvo Car Group unveiled its new Volvo
V60 Bi-Fuel car, with the Westport-supplied system, that will be launched in
October in Sweden. The new V60 will expand Volvo Car Group's Bi-Fuel product
line, providing a new option for corporate and municipal fleet customers. The
car can run on CNG/biomethane or petrol (gasoline) with a powerful 213
horsepower engine. The Bi-Fuel system offers a total driving range of 1,120
kilometers.

During the quarter, Westport acquired BAF and its subsidiary, ServoTech,
subsidiaries of Clean Energy for $25 million in Westport stock. Westport
believes that the amalgamation represents the largest position in the Ford
Qualified Vehicle Modifier program with over 10 products combined and
approximately 150 Ford authorized dealerships. The integration plan is
underway and on track to achieve engineering, customer service, and sales
synergies identified prior to the acquisition.

In addition, Westport and Clean Energy announced a $5 million joint marketing
and sales program to grow the natural gas vehicle market, allowing Westport to
provide purchase incentives for fleets, including fuel credits, and a
commitment from Clean Energy to purchase Westport products.

In Canada, Westport is qualifying with Ford dealerships to offer the Ford
F-Series Super Duty trucks with the Westport WiNG Power System. Westport is
also taking orders for the newly launched Westport WiNG Power System for the
Ford F-450 and F-550 pickup trucks.

The Westport iCE PACK LNG Tank System is on track for commercial production in
the second half of this year. It is optimized for use with the Cummins
Westport ISL G or the Cummins Westport ISX12 G engines. Westport continues to
work with Clean Energy to bundle the Westport iCE PACK LNG Tank System and a
long-term fuel contract into a package for qualified customers.

New Markets and Off-Road Systems Business Unit

New Markets and         Three Months Ended % Change  Six Months Ended % Change
Off-Road Systems                  June 30,                   June 30,
($ in millions)           2013      2012              2013     2012
Revenue                   $ -  $ -        -  $ -  $ -        -
Gross margin                    -        -        -        -        -        -
Gross margin percentage         -        -        -        -        -        -
Operating expenses            3.5      3.0      17%      6.3      4.8      31%
Segment operating loss     (3.5)    (3.0)      17%    (6.3)    (4.8)      31%

  *The initial focus of the New Markets and Off-Road Systems business unit is
    on developing Westport HPDI-based large mine trucks and mainline
    locomotives, and bring Westport HPDI technology into new markets. Revenues
    are expected to come from product and component sales, the cryogenic
    vessels required to store the LNG, and the control systems which deliver
    fuel to the engine associated with such vehicles. The first revenue is
    expected to be recorded in the fourth quarter of 2013.
  *The increase in operating expenses is due primarily to higher general and
    administrative costs to support the development of this business.
  *Westport continues to collaborate with Caterpillar to develop an HPDI
    system for large mine trucks and locomotives.

Westport launched an LNG fuel Tender for locomotives with an order of four
units from CN. With more than 10,000 gallons LNG capacity, the Westport LNG
Tender provides longer range than a diesel locomotive, reducing the need for
LNG refuelling infrastructure and refuelling stops. The first tender to supply
fuel to an adjacent natural-gas powered locomotive is on track to be delivered
in the fourth quarter of 2013.

Corporate and Technology Investments Business Unit

Corporate and          Three Months Ended % Change   Six Months Ended % Change
Technology Investments           June 30,                    June 30,
($ in millions)               2013   2012                2013    2012
Service revenue          $ 1.3  $    (91%)  $ 2.3   $    (84%)
                                     14.1                        14.1
Operating expenses            27.1   16.2      67%       49.5    30.1      64%
Segment operating          (25.8)  (2.1)    1129%     (47.2)  (16.0)     195%
loss

  *Corporate and Technology Investments includes investments in new research
    and development programs, revenues and expenses related to development
    programs with OEMs, corporate oversight and general administrative duties.
  *Service revenue represents revenue earned under Westport's development
    agreements during the quarter.
  *Operating expenses increased by 67% primarily due to higher investments in
    research and development activities on new and existing development
    programs of $8.3 million and additional resources to support market
    development initiatives. Westport expects approximately $6.0 million of
    the research and development expenses incurred in the quarter to be
    reimbursed upon completion of milestones.

Cummins Westport Inc. Highlights

                        Three Months Ended % Change Six Months Ended % Change
                                   June 30,                  June 30,
($ in millions)           2013      2012               2013    2012
Units                       2,716     1,972      38%    4,029   3,915       3%
Revenue                $ 78.0 $ 57.0      37%    $   $      12%
                                                        122.7   109.7
Gross margin                 20.6      17.4      18%     32.8    37.1    (12%)
Gross margin                26.4%     30.5%        -    26.7%   33.8%        -
percentage
Operating expenses           10.0       5.9      69%     20.8    10.6      96%
Segment operating           10.6      11.5     (8%)     12.0    26.5    (55%)
income
Net income to Westport        3.3       3.6     (8%)      4.1     8.4    (51%)

  *CWI engine shipments for the quarter ended June 30, 2013 increased by 38%
    to 2,716 units compared with 1,972 units in the prior year period. The
    quarterly volumes in North America increased by 25% driven by higher sales
    in all segments but mainly truck and refuse applications. Growth in the
    trucking segment increased as a result of the launch of the ISX12 G
    heavy-duty truck engine in April. Internationally, CWI volumes increased
    as a result of a large shipment to an Asian customer.
  *The decrease in CWI gross margin percentage during the quarter was
    primarily due to mix of sales primarily from the sale of the ISX12 G
    engines, which have a low gross margin on product launch. In addition,
    warranty adjustments and net extended coverage claims of $5.1 million were
    recorded in the three months ended June 30, 2013, an increase of $0.3
    million compared to the prior year period. Excluding the warranty impact
    on the ISL G, CWI gross margin percentage would have been 32.9%.
  *The increase in operating expenses is driven by research and development
    expenses related to the ISX12 G, ongoing product and reliability
    improvements for the ISL G, and the development of the ISB6.7 G.
  *Production of the 400HP version of the Cummins Westport ISX12 G has
    started, with initial deliveries to OEM customers scheduled in early
    August. Demand for the ISX12 G continues to be strong as large fleets such
    as UPS, Penske, Dillon Transportation and major shippers such as P&G have
    recently announced their plans to adopt natural gas trucks.
  *In addition to the previously announced plans to expand the LNG fuelling
    network made by Clean Energy, Blu, Shell, and TravelCenters of America,
    Love's and Trillium CNG have both announced plans to significantly expand
    their networks of CNG refuelling facilities sized for Class 8 trucks.
  *CWI's net income attributable to Westport was $3.3 million for the quarter
    ended June 30, 2013, compared with $3.6 million in the prior year period.

Weichai Westport Inc. Highlights

                        Three Months Ended % Change Six Months Ended % Change
                                   June 30,                  June 30,
($ in millions)                 2013   2012              2013    2012
Units                         12,410  5,331     133%   20,939   8,059     160%
Revenue                  $ 152.5  $     122%    $   $     144%
                                       68.8             258.4   106.0
Gross margin                    11.9    9.5      25%     19.0    15.7      21%
Gross margin percentage         7.8%  13.8%        -     7.4%   14.8%        -
Operating expenses               7.4    5.6      32%     11.1     9.8      13%
Segment operating               4.5    3.9      15%      7.9     5.9      34%
income
Westport's 35% interest          1.3    1.1      18%      2.4     1.7      41%

  *In the second quarter of 2013, WWI increased sales by 122% compared to the
    same period last year as market demand for natural gas trucks and buses
    continues to increase.
  *The decrease in gross margin percentage is related primarily to product
    mix and aggressive efforts to penetrate new markets and build market share
    in China.
  *For the quarter ended June 30, 2013, shipment for trucking and bus
    applications increased by 167% and 8%, respectively, compared to the prior
    year period.

Non-GAAP Financial Measure; Adjusted EBITDA Results
Adjusted EBITDA is used by management to review operational progress of its
business units and investment programs over successive periods and as a
long-term indicator of operational success since it ties closely to the unit's
ability to generate sustained cash flows. Westport defines Adjusted EBITDA as
net loss attributed to the Company before (a) income taxes, (b) depreciation
and amortization, (c) interest expense, net, (d) amortization of stock-based
compensation, and (e) unrealized foreign exchange loss (gain). The term
Adjusted EBITDA is not defined under U.S. generally accepted accounting
principles, or U.S. GAAP, and is not a measure of operating income, operating
performance or liquidity presented in accordance with U.S. GAAP. Adjusted
EBITDA has limitations as an analytical tool, and when assessing Westport's
operating performance, investors should not consider Adjusted EBITDA in
isolation, or as a substitute for net loss or other consolidated statement of
operations data prepared in accordance with U.S. GAAP. Among other things,
Adjusted EBITDA does not reflect Westport's actual cash expenditures. Other
companies may calculate similar measures differently than Westport, limiting
their usefulness as comparative tools. Westport compensates for these
limitations by relying primarily on its GAAP results and using Adjusted EBITDA
only supplementally.

                                  Three Months Ended     Six Months Ended
                                       June 30,              June 30,
                                    2013     2012      2013       2012
Net loss                           $ (33.9)  $ (6.1)  $ (65.7)  $  (28.7)
Provision for income taxes             0.3     0.8      0.6        1.6
Depreciation and amortization          3.8     2.7      7.4        5.2
Interest expense, net                  1.3     1.0      2.5        2.4
                                                                 
EBITDA                              (28.5)   (1.6)   (55.2)     (19.5)
Amortization of stock-based            4.1     2.9      7.5        6.5
compensation
Unrealized foreign exchange gain     (3.4)   (4.9)    (6.4)      (4.5)
                                                                 
Adjusted EBITDA                    $ (27.8)  $ (3.6)  $ (54.1)  $   (17.5)

Outlook
This press release includes financial outlook information for Westport and
such information is being provided for the purpose of updating prior revenue
disclosure and may not be appropriate for, and should not be relied upon for,
other purposes.

Financial Statements & Management's Discussion and Analysis
To view Westport's full financials for the quarter ended June 30, 2013, please
point your browser to the following link:
http://www.westport.com/investors/financial

Live Conference Call & Webcast
Westport has scheduled a conference call for today, Thursday, August 1, 2013
at 2:00 pm Pacific Time (5:00 pm Eastern Time) to discuss these results. The
public is invited to listen to the conference call in real time by telephone
or webcast. To access the conference call by telephone, please dial:
1-800-319-4610 (Canada & USA toll-free) or 604-638-5340. The live webcast of
the conference call can be accessed through the Westport website at
www.westport.com/investors.

Replay Conference Call & Webcast
To access the conference call replay, please dial 1-800-319-6413 (Canada & USA
toll-free) or 604-638-9010 using the pass code 1847. The replay will be
available until August 8, 2013. Shortly after the conference call, the webcast
will be archived on the Company's website and replay will be available in
streaming audio.

About Westport Innovations Inc.
Westport engineers the world's most advanced natural gas engines and vehicles.
More than that, we are fundamentally changing the way the world travels the
roads, rails and seas. We work with original equipment manufacturers (OEMs)
worldwide from design through to production, creating products to meet the
growing demand for vehicle technology that will reduce both emissions and fuel
costs. To learn more about our business, visit westport.com, subscribe to our
RSS feed, or follow us on Twitter @WestportDotCom.

This press release contains forward-looking statements, including statements
regarding the anticipated consolidated revenue and revenue growth of Westport
for calendar year 2013, timing for launch and completion of milestones related
to the engine products referenced herein, including but not limited to the
400HP CWI ISX12 G, the Westport iCE PACK^TM LNG Tank System, the GAZ Group
natural gas system, natural gas tender product, timing and expectations for
future cash flows, the demand for our products, the future success of our
business and technology strategies, investment in new product and technology
development and otherwise, cash and capital requirements, intentions of
partners and potential customers, the performance and competitiveness of
Westport's products and expansion of product coverage, future market
opportunities, speed of adoption of natural gas for transportation and terms
and timing of future agreements as well as Westport management's response to
any of the aforementioned factors. These statements are neither promises nor
guarantees, but involve known and unknown risks and uncertainties and are
based on both the views of management and assumptions that may cause our
actual results, levels of activity, performance or achievements to be
materially different from any future results, levels of activities,
performance or achievements expressed in or implied by these forward looking
statements. These risks and uncertainties include risks and assumptions
related to our revenue growth, operating results, industry and products, the
general economy, conditions of and access to the capital and debt markets,
governmental policies and regulation, technology innovations, fluctuations in
foreign exchange rates, the availability and price of natural gas, global
government stimulus packages, the acceptance of and shift to natural gas
vehicles, the relaxation or waiver of fuel emission standards, the inability
of fleets to access capital or government funding to purchase natural gas
vehicles, the sufficiency of bio methane for use in our vehicles, the
development of competing technologies, our ability to adequately develop and
deploy our technology as well as other risk factors and assumptions that may
affect our actual results, performance or achievements or financial position
discussed in our most recent Annual Information Form and other filings with
securities regulators. Readers should not place undue reliance on any such
forward-looking statements, which speak only as of the date they were made. We
disclaim any obligation to publicly update or revise such statements to
reflect any change in our expectations or in events, conditions or
circumstances on which any such statements may be based, or that may affect
the likelihood that actual results will differ from those set forth in these
forward looking statements except as required by National Instrument 51-102.
The contents of any website, RSS feed or twitter account referenced in this
press release are not incorporated by reference herein.











SOURCE Westport Innovations Inc.

Contact:

Inquiries:
Darren Seed
Vice President, Investor Relations & Communications
Westport Innovations Inc.
T 604-718-2046
invest@westport.com