Westport Reports First Quarter Fiscal 2014 Financial Results

~ First Quarter Revenue Up 39% Year over Year; Step Change Improvement in 
Westport Operating Business Units' Adjusted EBITDA ~ 
VANCOUVER, May 1, 2014 /CNW/ - Westport Innovations Inc. (TSX:WPT / 
NASDAQ:WPRT), engineering the world's most advanced natural gas engines and 
systems, today reported financial results for the first quarter ended March 
31, 2014 and provided an update on operations. All figures are in U.S. dollars 
unless otherwise stated. 
Highlights include: 
Revenue & Net Results 


        --  Westport revenue, excluding joint ventures' revenues, for the
            quarter ended March 31, 2014 was $41.9 million compared with
            $30.1 million for the same period last year, an increase of
            39%.
        --  Joint venture segment revenue for the quarter ended March 31,
            2014 was $80.1 million for Cummins Westport Inc. (CWI), an
            increase of 79% over the same period last year; and $113.4
            million for Weichai Westport Inc. (WWI), an increase of 7% over
            the same period last year.
        --  Westport consolidated net loss and net loss per share for the
            quarter ended March 31, 2014 decreased to $23.9 million and
            $0.38, respectively, from $31.8 million, and $0.57,
            respectively in 2013.

Adjusted EBITDA (The reconciliation of Adjusted EBITDA is described below)
        --  For the quarter ended March 31, 2014, Westport reported an
            Adjusted EBITDA loss from operations of $1.6 million compared
            with an Adjusted EBITDA loss from operations of $8.7 million
            for the quarter ended March 31, 2013, an improvement of
            approximately 81% year-over-year.
        --  For the quarter ended March 31, 2014, Westport reported a
            consolidated Adjusted EBITDA loss of $22.1 million for the
            Company, compared with a loss of $26.3 million in the prior
            year period.

As previously announced, Westport re-organized its business in 2013 to take 
advantage of the shift by original equipment manufacturers (OEMs) to develop 
natural gas vehicle products in-house. Westport's operating business units 
have the goal of achieving positive Adjusted EBITDA from operations by the end 
of 2014. The $1.6 million loss is a step change in Adjusted EBITDA, which has 
averaged about a $9.4 million loss per quarter for the past eight quarters. 
This has been achieved through significant organizational efficiencies, 
product portfolio optimization and cost reductions.

Increased Product Volumes / Revenue:
        --  For the quarter ended March 31, 2014, On-Road Systems revenue
            increased by 277% to $17.7 million compared with $4.7 million
            in the same period last year due primarily to the addition to
            revenue from acquired organizations, BAF Technologies (BAF) and
            its subsidiary, ServoTech Engineering, Inc. (ServoTech),
            shipment of Westport iCE PACK™ liquefied natural gas
            (LNG) Tank Systems, and increased sales of Volvo cars with
            Westport bi-fuel systems.
        --  For the quarter ended March 31, 2014, CWI revenue increased by
            79% to $80.1 million on 2,480 units, compared with $44.7
            million on 1,313 units in the same period last year.
        --  For the quarter ended March 31, 2014, WWI revenue increased by
            7% to $113.4 million on 9,172 units, compared with $105.9
            million on 8,529 units in the same period last year.

Reducing Costs and Prioritizing Investments
        --  Cash used in the quarter ended March 31, 2014 was $26.7
            million, including a one-time payment to Clean Energy Fuels
            Corp. of $5.0 million for a previously announced joint
            marketing and sales program related to the acquisition of BAF
            and its subsidiary, ServoTech, in June 2013. This is compared
            with $26.9 million for the quarter ended December 31, 2013.
            Westport is continuing to focus on cost reduction initiatives
            and management of Westport's investment programs.
        --  Westport is co-investing with OEMs to develop a portfolio of
            new natural gas vehicle technologies and related systems and
            components. Since 2012, Westport has invested $214.9 million
            into various programs, including trucking, automotive, and
            off-road applications, as well as advanced engineering and
            capital expenditures.  These are investments with 3 to 5 year
            development cycles from the start of development to product
            sales. Westport is carefully managing the programs and
            allocating capital to products and technologies designed to
            deliver high margin returns in the future.

Business Highlights
        --  Westport and Delphi Automotive are combining their intellectual
            property and engineering strengths to co-develop and
            manufacture high-pressure natural gas fuel injectors designed
            for multiple engine OEMs, establishing Westport high pressure
            direct injection (Westport™ HPDI) as the leading natural
            gas technology platform for heavy-duty engine applications. The
            family of injectors to be developed will be one of the core
            components of Westport™ HPDI 2.0 fuel system. Delphi and
            Westport plan to ramp production capacity to 100,000 HPDI
            injectors per year by 2018.
        --  Westport and Weichai launched final customer validation units
            of the next generation Westport™HPDI 2.0 on the Weichai
            Westport WP12 engine platform; and initiated development of the
            10 litre Weichai Westport WD10 engine with Westport HPDI 2.0.
            The current generation Weichai Westport WD10 and WP12 natural
            gas engines, using lean burn spark ignited technology, account
            for about 75 percent of WWI's engine unit sales. With the
            strong demand for natural gas engines in China, WWI is
            expanding its manufacturing capacity to 100,000 engines per
            year by the end of 2014.
        --  Westport received California Air Resources Board (CARB)
            certification for its 2014 model year Westport WiNG™ Ford
            F-150 3.7L pickup truck with the dedicated compressed natural
            gas (CNG) system.
        --  Westport received Environmental Protection Agency (EPA)
            certification for its 2015 model year Ford F-250 and F-350
            super duty trucks with the Westport WiNG™ bi-fuel CNG
            system.
        --  Westport and Tata Motors Limited launched a new spark-ignited
            (SI) natural gas 3.8L turbocharged engine featuring the
            Westport WP580 Engine Management System (EMS). Westport also
            unveiled its newest proprietary technology, Westport gas
            enhanced methane diesel (Westport GEMDi™) targeted for
            medium-duty trucks and buses in India.
        --  Westport and Universal LNG has signed an agreement to develop a
            range of LNG portable power units for a diverse range of
            applications. Westport will initially develop two water pump
            units powered by the Westport™2.4L industrial power unit
            or a low cost natural gas 7L engine platform, fitted with the
            Westport WP580 EMS for larger applications, and integrated with
            the Westport iCE PACK LNG Tank System to supply the fuel. The
            power unit is design protected to meet future requirements of
            Universal LNG's customers in marine transit, utility, power
            generation and tractor applications. Upon successful completion
            of the development phase, Westport expects to build and supply
            units for a large scale trial in the U.S. and Asia Pacific
            markets.
        --  Westport is developing an advanced, durable, and fuel efficient
            3.8L industrial engine, designed to operate on either natural
            gas or liquefied petroleum gas (LPG). This new industrial
            product is based on Hyundai Motor Company's 3.8L automotive
            engine and is targeted for use in industrial applications such
            as forklift, oil & gas, power generation, and construction
            equipment. The engine will feature a multi-point fuel injection
            system designed and manufactured by Westport, and the Westport
            WP580 EMS. With the new 3.8L engine, Westport expects to
            broaden its market opportunity and engage new OEMs in the
            mobile and stationary industrial markets. The engine is
            expected to meet EPA and CARB emissions standards.

"We have made a step change this quarter with Westport revenue growth of 39% 
year-over-year and significant improvement on Adjusted EBITDA from operations, 
from an average loss of approximately $9.4 million to a $1.6 million loss," 
said David Demers, CEO of Westport. "We are on track to achieve positive 
Adjusted EBITDA from operations by the end of 2014 by continuing to increase 
sales, shipping committed products, and applying cost and margin discipline. 
At the same time, we are confident that our investment projects will deliver 
shareholder value as these products come to market."

"In China, Weichai Westport sold more than 9,100 units in the quarter and 
recorded $113 million in revenue, 8% and 7% higher than the same period last 
year. As announced earlier this week, we are excited that Weichai will be the 
first OEM delivering HPDI 2.0 technology to the market. The WP12 engine is 
China's first engine featuring Westport HPDI technology, delivering the power 
and performance of the base diesel engine, while replacing up to 95% of diesel 
fuel with cleaner burning, less expensive natural gas. Furthermore, we have 
agreed to develop the 10 litre Weichai Westport WD10 engine with Westport HPDI 
2.0, with product availability planned for 2016. We are very pleased to 
continue to work with Weichai to lead this energy transition in China."

"We have a comprehensive product investment program, collaborating with key 
global OEMs to launch major new products, resulting in increased sales while 
reducing investment expenses over the next several years. At the same time, we 
are continuing to reduce our operating costs and prudently manage our cash 
flow. The income from our joint ventures and service revenue are expected to 
cover our corporate costs and investment programs."

"Energy transitions are difficult to accomplish, but with the technologies, 
resources, and capabilities we have, we are confident that we will benefit 
from this transition."

Financial Outlook for 2014 and Path to Profitability
Westport expects revenue to be between $175 million and $185 million for the 
year ended December 31, 2014, which represents growth of 7 to 13% over 2013.

As Westport shifts from market creation work to a full commercial operation 
and profitability, Westport has announced two interim financial milestones. 
Westport's first milestone is to have its three operating business units 
combined to achieve positive Adjusted EBITDA by the end of 2014. Westport's 
second milestone is to have the Company report consolidated positive Adjusted 
EBITDA by the end of 2015, driven by contributions from Westport's operating 
business units, Westport's share of net income (loss) from the joint ventures, 
and service revenue earned from Westport's development partners.

First Quarter 2014 Financial Highlights
     _____________________________________________________________________
    |                         |Three Months Ended March 31,|              |
    |_________________________|____________________________|   % Change   |
    |($ in millions, except   |    2014  |         2013    |Better/(Worse)|
    |per share amounts)       |          |                 |              |
    |_________________________|__________|_________________|______________|
    |Consolidated revenues    |$     41.9|        $    30.1|        39%   |
    |_________________________|__________|_________________|______________|
    |Consolidated gross margin|      12.3|              8.1|        52%   |
    |_________________________|__________|_________________|______________|
    |Consolidated gross margin|     29.4%|            26.9%|         -    |
    |percentage               |          |                 |              |
    |_________________________|__________|_________________|______________|
    |Operating expenses       |          |                 |              |
    |(Research and            |          |                 |              |
    |development, and selling,|      39.3|             39.5|         1%   |
    |general                  |          |                 |              |
    |and administrative)      |          |                 |              |
    |_________________________|__________|_________________|______________|
    |(Loss) Income from       |     (0.4)|              1.7|              |
    |unconsolidated joint     |          |                 |      (124%)  |
    |ventures                 |          |                 |              |
    |_________________________|__________|_________________|______________|
    |Consolidated Adjusted    |          |                 |              |
    |EBITDA                   |          |                 |              |
    |(The reconciliation of   |    (22.1)|           (26.3)|        16%   |
    |Adjusted EBITDA is       |          |                 |              |
    |described below)         |          |                 |              |
    |_________________________|__________|_________________|______________|
    |Cash and short-term      |     183.9|            173.9|         6%   |
    |investments balance      |          |                 |              |
    |_________________________|__________|_________________|______________|
    |Net loss                 |    (23.9)|           (31.8)|        25%   |
    |_________________________|__________|_________________|______________|
    |Net loss per share       |    (0.38)|           (0.57)|        33%   |
    |_________________________|__________|_________________|______________|
        --  The increase in gross margin percentage for the quarter ended
            March 31, 2014 is due primarily to sales of higher margin
            product such as the Westport WiNG™ System and service
            revenue.
        --  Research and development expenses were $21.0 million for the
            quarter ended March 31, 2014, compared with $20.4 million in
            the same period last year.
        --  Selling, general and administrative expenses were $18.3 million
            for the quarter ended March 31, 2014, a decrease of $0.8
            million from $19.1 million in the same period last year. The
            decrease year over year is primarily due to cost reduction
            initiatives.

Operating Business Unit Highlights

Business Units Adjusted EBITDA*
                                              Three Months Ended
    ($ in        March 31, 2014  December 31,  September 30, June 30, 2013
    millions)                            2013           2013
    Applied          $      0.1 $         1.6 $          2.1 $         2.8
    Technologies
    On-Road               (1.2)         (6.9)          (6.8)         (8.6)
    Systems
    Off-Road              (0.5)         (3.1)          (3.9)         (3.1)
    Systems
    Total                 (1.6)         (8.4)          (8.6)         (8.9)
    Operating
    Business
    Units
    Adjusted
    EBITDA

*Adjusted EBITDA reconciliation is described below.

Applied Technologies
        --  Applied Technologies revenue for the quarter ended March 31,
            2014 decreased 6% to $21.9 million compared with $23.3 million
            in the prior year period primarily due to the weakness in
            certain markets, particularly Italy, offset by continued growth
            in China.
        --  Applied Technologies gross margin and gross margin percentage
            for the quarter ended March 31, 2014 decreased to $5.6 million
            and 25.6%, respectively, compared with $6.7 million and 28.8%,
            respectively, in the prior year period primarily due to mix of
            products.
        --  Applied Technologies operating expenses for the quarter ended
            March 31, 2014 increased by $1.3 million to $6.1 million
            compared to the prior year period primarily related to higher
            research and development costs for new products.

On-Road Systems
        --  On-Road Systems revenue for the quarter ended March 31, 2014
            increased by 277% to $17.7 million compared with $4.7 million
            in the same period last year due primarily to the addition of
            revenue from acquired organizations, BAF and its subsidiary,
            ServoTech, shipment of Westport iCE PACK LNG Tank systems, and
            increased sales of Volvo cars with Westport bi-fuel systems.
        --  On-Road Systems gross margin and gross margin percentage for
            the quarter ended March 31, 2014 increased to $5.5 million and
            31.1%, respectively, from $0.2 million and 4.3%, respectively.
            The increase is primarily due to economies of scale as a result
            of higher shipments and product mix.
        --  On-Road Systems operating expenses for the quarter ended March
            31, 2014 decreased by $2.1 million to $7.1 million compared to
            the prior year period due primarily to reduced expenses related
            to changes in operating structure, consolidation of facilities,
            and exiting production of the first generation of
            Westport™ HPDI system.

Off-Road Systems
        --  Off-Road Systems revenue for the quarter ended March 31, 2014
            increased by 18% to $1.3 million compared with $1.1 million in
            the prior year period.
        --  Off-Road Systems operating expenses decreased by $2.2 million
            to $0.8 million for the quarter ended March 31, 2014 primarily
            due to cost reduction initiatives.

Cummins Westport Inc. Highlights
     _____________________________________________________________________
    |                    |     Three Months Ended March 31,|   % Change   |
    |____________________|_________________________________|Better/(Worse)|
    |($ in millions)     |           2014    |      2013   |              |
    |                    |                   |             |              |
    |____________________|___________________|_____________|______________|
    |Units               |              2,480|        1,313|        89%   |
    |____________________|___________________|_____________|______________|
    |Revenue             |     $         80.1|$        44.7|        79%   |
    |____________________|___________________|_____________|______________|
    |Gross margin        |                7.6|         12.3|      (38%)   |
    |____________________|___________________|_____________|______________|
    |Gross margin        |               9.5%|        27.5%|         -    |
    |percentage          |                   |             |              |
    |____________________|___________________|_____________|______________|
    |Gross margin        |              28.2%|        36.0%|         -    |
    |percentage excluding|                   |             |              |
    |warranty adjustments|                   |             |              |
    |____________________|___________________|_____________|______________|
    |Operating expenses  |                9.7|         10.8|        10%   |
    |____________________|___________________|_____________|______________|
    |Segment operating   |              (2.1)|          1.5|      (240%)  |
    |(loss) income       |                   |             |              |
    |____________________|___________________|_____________|______________|
    |Net (loss) income to|              (0.8)|          0.8|      (200%)  |
    |Westport            |                   |             |              |
    |____________________|___________________|_____________|______________|
        --  CWI engine shipments for the quarter ended March 31, 2014
            increased by 89% to 2,480 units compared with 1,313 units in
            the prior year period. The yearly volumes in North America
            increased by 102% driven by higher sales in all segments
            particularly truck applications, up 223%, as a result of the
            launch of the ISX12 G. The ISX12 G has been performing to
            expectations and has been well received. CWI quarterly volumes
            in the international market also increased by 48% as a result
            of large deliveries for fleets in regions such as China and
            South America.
        --  Gross margins in the first quarter of 2014 and 2013 were
            impacted by adjustments to warranty of $15.0 million and $3.8
            million, respectively, and the gross margin percentage
            excluding these adjustments would have been 28.2% and 36.0% in
            2014 and 2013, respectively. The majority of warranty
            adjustments are associated with the Cummins Westport 8.9L ISL
            G.
        --  The decrease in CWI operating expenses were primarily driven by
            lower research and development expenses as a result the launch
            of the Cummins Westport ISX12 G last year and cost management
            initiatives.
        --  CWI's net loss attributable to Westport was $0.8 million,
            compared with $0.8 million income in the prior year period.
            Excluding the warranty impact, CWI's net income attributable to
            Westport would have been $4.1 million.

Weichai Westport Inc. Highlights
     _____________________________________________________________________
    |                         |Three Months Ended March 31,|   % Change   |
    |_________________________|____________________________|Better/(Worse)|
    |($ in millions)          |      2014  |        2013   |              |
    |                         |            |               |              |
    |_________________________|____________|_______________|______________|
    |Units                    |       9,172|          8,529|         8%   |
    |_________________________|____________|_______________|______________|
    |Revenue                  |$      113.4|   $      105.9|         7%   |
    |_________________________|____________|_______________|______________|
    |Gross margin             |         6.3|            7.0|      (10%)   |
    |_________________________|____________|_______________|______________|
    |Gross margin percentage  |        5.6%|           6.6%|         -    |
    |_________________________|____________|_______________|______________|
    |Operating expenses       |         4.6|            3.7|      (24%)   |
    |_________________________|____________|_______________|______________|
    |Segment operating  income|         1.7|            3.3|      (48%)   |
    |_________________________|____________|_______________|______________|
    |Westport's 35% interest  |         0.5|            1.0|      (50%)   |
    |_________________________|____________|_______________|______________|
        --  Gross margin decreased $0.7 million or 10% in the quarter ended
            March 31, 2014 due primarily to competitive product mix.
        --  Operational expenses increased by $0.9 million for the three
            months ended March 31, 2014 due primarily to increased product
            development costs related to new products, facilities and
            support costs associated with continued growth of this
            business.
        --  For the quarter ended March 31, 2014, WWI increased volume by
            8% compared to the same period last year.

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 performance since it ties closely to the 
unit's ability to generate sustained cash flows. Westport defines Adjusted 
EBITDA as net income (loss) attributed to the business unit or the 
consolidated company excluding expenses for (a) income taxes, (b) depreciation 
and amortization, (c) interest expense, net, (d) non-cash and other unusual 
adjustments, (e) amortization of stock-based compensation, and (f) unrealized 
foreign exchange gain or loss. Adjusted EBITDA includes Westport's share of 
income (loss) from the joint ventures (JVs). The term Adjusted EBITDA is not 
defined under U.S. generally accepted accounting principles (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 U.S. GAAP results and using Adjusted EBITDA only 
supplementally.
                                             Three Months Ended March 31,
                                                 2014            2013
    Net loss                                 $   (23.9)        $   (31.8)
    Provision for income taxes                        -               0.3
    Depreciation and amortization                   4.3               3.6
    Interest expense, net                           0.8               1.2
    Non-cash and other unusual adjustments          0.9                 -
    Amortization of stock-based compensation        4.7               3.4
    Unrealized foreign exchange (gain) loss       (8.9)             (3.0)
                                                                         
    Adjusted EBITDA                          $   (22.1)        $   (26.3)
    For the                                                                                                
    three
    months
    ended March
    31, 2014
                                                                          Adjustments                      
                                                        Westport's              Stock-based
                                                         Share of              compensation
    ($ in                Segment operating              Income from            and non-cash       Adjusted
    millions)              income (loss)                  the JVs               adjustments        EBITDA
    Operating                    $       (2.7)         $           -               $       1.1        $    
    Business                                                                                          (1.6)
    Units
    Corporate                                                                              4.2             
    and                                 (24.3)                   (0.4)                               (20.5)
    Technology
    Investments
     
                                                                                                           
    For the three months ended December 31, 2013
                                                                          Adjustments                      
                                                        Westport's
                                                         Share of
    ($ in                Segment operating              Income from            Stock-based        Adjusted
    millions)              income (loss)                  the JVs              compensation        EBITDA
    Operating                $           (9.5)         $           -              $        1.1             
    Business                                                                                      $       
    Units*                                                                                            (8.4)
    Corporate                           (20.4)                     3.5                     2.1       (14.8)
    and
    Technology
    Investments
    *Excluding non-cash and other unusual adjustments related to the first generation of WestportTM HPDI
    systems.
     
    For the three months ended September 30, 2013
                                                                          Adjustments                      
                                                        Westport's
                                                         Share of
    ($ in                Segment operating              Income from            Stock-based        Adjusted
    millions)              income (loss)                  the JVs              compensation        EBITDA
    Operating                   $       (10.9)         $           -              $        2.3             
    Business                                                                                      $       
    Units                                                                                             (8.6)
    Corporate                                                                                              
    and                                 (16.0)                     3.7                     1.4       (10.9)
    Technology
    Investments
                                                                                                           
    For the                                                                                                
    three
    months
    ended June
    30, 2013
                                                                          Adjustments                      
                                                        Westport's
                                                         Share of
    ($ in                Segment operating              Income from            Stock-based        Adjusted
    millions)              income (loss)                  the JVs              compensation        EBITDA
    Operating                          $               $           -               $       1.9        $   
    Business                            (10.8)                                                        (8.9)
    Units
    Corporate                                                                                              
    and                                 (25.7)                     4.6                     2.2       (18.9)
    Technology
    Investments
                                                                                                           

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 March 31, 2014, 
please visit www.westport.com/company/investors/financial.

Supplementary Financial Information
To view unaudited historical financial information, please point your browser 
to the following link: www.westport.com/company/investors/financial. Westport 
is providing this supplement as a guide to Westport's financial information in 
a quick reference format and it should be read in conjunction with Westport's 
full financials for the quarter ended March 31, 2014 and Westport's full 
financials for the year ended December 31, 2013.  The Supplementary Financial 
Information contains previously undisclosed quarterly unaudited historical 
financial information based on the most recent reporting structure that was 
implemented in the fourth quarter of 2013 and is being provided in order to 
allow readers to better reconcile such information with the prior reporting 
structure.

Live Conference Call & Webcast
Westport has scheduled a conference call for today, Thursday, May 1, 2014 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/company/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 May 8, 2014. Shortly after the conference call, the webcast 
will be archived on Westport website and replay will be available in streaming 
audio, a downloadable MP3 file, and a slidecast.

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 timing for Westport's operating business units and 
consolidated business to be Adjusted EBITDA positive, revenue expectations, 
growth in core markets, production capacity for HPDI injectors, the effect of 
the recent reorganization and restructuring of our business, timing for 
launch, delivery  and completion of milestones related to the products 
referenced herein, including but not limited to the Weichai Westport WD10 
engine, 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,  
operating expenses, 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 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. 
Darren Seed Vice President, Investor Relations & Communications Westport T 
604-718-2046 invest@westport.com 
To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/May2014/01/c6169.html 
CO: Westport Innovations Inc.
ST: British Columbia
NI: TRN ERN  
-0- May/01/2014 20:05 GMT
 
 
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