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News ReleaseNovAtel Inc. Launches Next Generation Products at International GNSS Conference
(Fort Worth, Texas, USA, September 27, 2006)— NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, launched today at the Satellite Division Technical Meeting of the Institute of Navigation (ION), Global Navigation Satellite Systems conference its next generation products including the SMART-V1, FlexPak V Series and Waypoint Products Group’s Inertial Explorer software version 7.61. The SMART-V1, powered by the OEMV-1 single frequency GPS+L-band receiver, is a rugged, self-contained GPS receiver combined with an antenna and is available with support for CAN Bus or USB communication. Designed to perform in harsh environmental conditions, it features 14 channels for L1 code and phase tracking, as well as two dedicated channels for Satellite-Based Augmentation Systems (SBAS) corrections and one dedicated channel for OmniSTAR or Canada-wide Differential Global Positioning System corrections. Rugged, small and lightweight, NovAtel’s FlexPak is a self-contained GPS receiver featuring low power consumption as well as two serial ports and USB communication, making it ideal for applications including unmanned systems or other portable applications requiring high precision. FlexPak will be available in two models. The FlexPak-V1, powered by the OEMV-1 single frequency GPS+L-band receiver, delivers NovAtel’s decimeter-level positioning performance and supports OmniSTAR or Canada-wide Differential GPS (CDGPS) correction services. The FlexPak-V2, powered by the OEMV-2 dual frequency GPS receiver, can be upgraded to deliver RT-2® centimeter positioning accuracy and supports GLONASS measurements with GLONASS positioning capability planned for future models. NovAtel’s Inertial Explorer version 7.61 introduces a simple boresight function, wheel sensor data processing and support for iMAR IMUs. These features, together with enhanced processing of GNSS and inertial data, make Inertial Explorer a valuable tool for precise post-processed solutions. Inertial Explorer 7.61 is scheduled for release in October, 2006. According to Graham Purves, Vice President, Sales for NovAtel, “These new NovAtel products are an example of our commitment to enhance the usability and performance of our latest OEMV receivers in order to provide our customers with the best possible precise positioning solutions.” About NovAtelNovAtel 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. Certain statements in this news release, including those about the Company’s future plans and intentions, and future performance and market acceptance of its next generation products, are forward-looking statements. 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, certification and market acceptance of NovAtel’s new products, 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, 2005 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. |
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