 |
 |
|
|
|
Archive 2005
(Calgary, Alberta, Canada, December 12, 2005) - NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, announced today that Alcatel Alenia Space Italia (AAS-I) and NovAtel as major subcontractor, together with Space Engineering, have been selected by the European Space Agency (ESA)/GaIn to begin work on development of the Navigation Ground Reference Receiver for Europe’s state-of-the-art satellite navigation system. The value of this initial funding authorization to NovAtel is €1.261 million ($1.48m US), which is expected to generate revenue for the company during Q4 2005 and Q1 2006. This is the first part of a fixed price contract which, provided it continues, will ultimately be worth up to €6.3 million ($7.4m US) to NovAtel over the following two and a half years. Europe’s satellite navigation system is funded by ESA and the European Commission, and is expected to be operational by 2008/10 with up to 30 satellites orbiting the earth. The Navigation Ground Reference Receiver, for which NovAtel will develop receiver components, forms part of the Navigation Reception Chain (GRC), which is being supplied by AAS-I to GaIn and ESA for use in the Navigation Ground Control Segment. The program calls for the development, qualification and delivery of 25 production GRC equipment groups to support the In Orbit Validation (IOV) phase of the European satellite navigation system. The objective of the IOV phase is to verify the proper functioning of the overall navigation system before entering the next phase, which is full deployment. NovAtel will develop and qualify two digital receiver sections, an I/O Master card and will supply an off-the-shelf dual frequency GPS receiver - all for installation in a NovAtel 19 inch rack enclosure. These receiver components will be provided to AAS-I, who will add radio frequency and other digital receiver components and system qualification to complete the Navigation Ground Reference Receiver. Alcatel Alenia Space Italia will also provide an external antenna supplied by Space Engineering and an external commercial atomic clock and will deliver the GRC equipment group to GaIn. GaIn was established in 2000 as a joint venture of leading European space companies to act as industrial prime to develop and deliver the European satellite navigation system infrastructure. According to Tony Murfin, NovAtel’s Vice President, Business Development, “The GRC program represents a major step forward for NovAtel’s European satellite navigation system receiver efforts. We have already produced working receivers, but this is the first time we have been involved in development of critical parts of the actual operational system - key elements of the navigation system’s ground infrastructure. We are very pleased that AAS-I/NovAtel have been entrusted by GaIn and the European Space Agency to provide this core sensor receiver for the European satellite navigation system ground control network.” About NovAtel NovAtel designs, markets and sells high-precision GPS and other positioning components and sub-systems used in a wide variety of commercial applications principally in the aviation, geomatics (surveying and mapping), mining, precision agriculture, marine and defence industries. NovAtel is also the principal supplier of reference receivers to national aviation ground networks in the US, Japan, Europe, China and India. NovAtel’s solutions combine hardware, such as receivers and antennas, with software to enable its customers to fully integrate the Company’s high-precision GPS technology into their respective products and systems. NovAtel, an ISO 9001 certified company, is focused on supplying core high-precision positioning technology to OEMs and system integrators who build systems for various end market applications. For more information, visit www.novatel.com. About Alcatel Alenia Space Alcatel Alenia Space, leader in satellite systems and at the forefront of orbit infrastructures, brings together the vast experience and know-how of Alcatel Space and Alenia Spazio to form a new leading force in European space technology. Alcatel Alenia Space represents a worldwide standard for space development that impacts everybody's future: from navigation to telecommunications, from meteorology to environmental monitoring, from defence to science and observation. An affiliate of Alcatel (67%) and Finmeccanica (33%), Alcatel Alenia Space generated an estimated turnover of 1.8 billion euros with around 7,200 people in 2004. Certain statements in this news release, including those about the Company’s prospects for additional European satellite navigation system projects, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.. These forward-looking statements are not based on historical facts but rather on management’s current expectations regarding NovAtel’s future growth, results of operations, performance, future capital and other expenditures, competitive advantages, business prospects and opportunities. Wherever possible, words such as ‘‘anticipate’’, ‘‘believe’’, ‘‘expect’’, ‘‘may’’, ‘‘could’’, ‘‘will’’, ‘‘potential’’, ‘‘intend’’, ‘‘estimate’’, ‘‘should’’, ‘‘plan’’, ‘‘predict’’, “forecast” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to differ materially from the results discussed or implied in the forward-looking statements, including operating results of the Company’s joint venture Point, Inc. (“Point”), impact and timing of large orders, U.S. dollar to Canadian dollar exchange rate fluctuations, establishing and maintaining effective distribution channels, timely launch of new products, certification and market acceptance of NovAtel’s new products, impact and timing of large orders, credit risks of customers and the Company’s joint venture Point, 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, product defects, the impact of industry consolidations, vulnerability to general economic, market and business conditions, competition, environmental and other actions by governmental authorities, reliance on key personnel and other factors described in the Company’s Form 20-F for the year ended December 31, 2004 and other SEC filings, many of which are beyond the control of NovAtel. These factors should be considered carefully and undue reliance should not be placed on the forward-looking statements. These forward-looking statements are made as of the date of this news release, and NovAtel assumes no obligation to update or revise them to reflect new events or circumstances.
|
|
|