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Archive 2002NovAtel Strengthens Distribution Network in Asia
(Calgary, Canada, December 17, 2002) - NovAtel Inc. (NASDAQ: NGPS), a Global Positioning System (GPS) manufacturer, is pleased to announce the addition of Dr. Jose J. Briceno and i-qube to its Asian distribution network. Based in Tokyo, Japan, Dr. Briceno will play a key role in expanding and supporting NovAtel’s business in Asia. “We have seen interest in NovAtel’s precise positioning technology steadily increasing as a result of several key high-profile applications in this geographic region. This mandated that we add resources to support and assist our Asian distribution network. Dr. Briceno‘s depth of business experience and extensive knowledge of GPS technology will benefit both NovAtel and its local dealers in Japan, Korea and China,” said Graham Purves, NovAtel’s Vice President of Sales. “I have been a long-time admirer of NovAtel’s GPS products and leading-edge precise positioning technology. I look forward to marketing these products across Asia,” said Dr. Briceno, Managing Director, i-qube technologies ltd. Dr. Briceno has 23 years experience in General Management, Sales, Marketing, Engineering and R&D. He received his PhD and MsC in Engineering from Tokyo University, Tokyo, Japan, and his undergraduate degree in Material Science from Simon Bolivar University, Caracas, Venezuela. Dr. Briceno has previously served as Vice President Asia Pacific Operations for Interwoven Inc., Vice President of Business Development for Trimble Navigation Ltd., Vice President and General Manager Asia Pacific for Trimble Navigation Ltd., and President of Trimble Japan K.K. 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 surveying, geographic information systems, aviation, marine, mining, machine control, agriculture and precise timing. For further information please visit our website at 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, credit risks of customers and joint ventures, financing of joint ventures, 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 product, product defects and the impact of industry consolidations, together with the other risks and uncertainties described in Management’s Discussion and Analysis of Financial Condition and Results of Operations herein and in the Company’s other filings with the United States Securities and Exchange Commission.
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