 |
 |
|
|
|
Archive 2002Deloitte & Touche LLP to Replace Arthur Andersen LLP Canada as NovAtel's Auditors
(Calgary, Alberta, Canada, June 7, 2002) - NovAtel Inc. announced today that as part of the recently completed transaction between Arthur Andersen LLP Canada and Deloitte & Touche LLP, Arthur Andersen LLP is resigning as NovAtel’s independent auditor effective June 3, 2002. NovAtel intends to appoint Deloitte & Touche LLP as its independent auditor for the fiscal year ending December 31, 2002, subject to approval by NovAtel’s shareholders at the 2002 Annual Shareholders Meeting to be held July 16, 2002. NovAtel Inc. designs, markets and supports a broad range of products that determine precise geographic locations using the Global Positioning System (GPS) and is the principal supplier of reference receivers to WAAS ground networks around the world. NovAtel’s GPS products are used principally for applications in precision markets such as the surveying, geographic information systems, aviation, marine, mining and machine control, agriculture and precise timing markets. For further information please visit our website at http://www.novatel.com. Certain statements in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or developments in the Company's industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, operating results of subsidiaries and joint ventures, establishing and maintaining effective distribution channels, certification and market acceptance of the Company's new products, impact and timing of large orders, pricing pressures in the market and other competitive factors, maintaining technological leadership, timing of revenue recognition in connection with certain contracts, the ability to maintain supply of products from subcontract manufacturers, the procurement of components to build products, and the impact of industry consolidations, together with the other risks and uncertainties described in public filings.
|
|
|