 |
 |
|
|
|
News ReleaseNovAtel Inc. Launches New AdVance RTKT Precise Positioning Solution
(Calgary, Alberta, Canada, November 27, 2006) – NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, has launched its new Real Time Kinematic (RTK) precise positioning solution – AdVance RTK™ - providing a significant technology advancement to the company’s OEMV™ family of receivers through superior algorithms that enhance precision and performance. NovAtel’s GNSS OEMV-2 and OEMV-3 receivers will now be available with the new AdVance RTK™ as part of the Version 3.100 firmware release. According to Pat Fenton, NovAtel’s Chief Technology Officer, “We believe this new enhanced positioning solution will raise the standard for precise positioning technologies today. AdVance RTK™ is another step forward in NovAtel’s commitment to enhance its technology in order to deliver best of class, highly integrated, precise positioning solutions for our customers. RTK positioning is a significant portion of our business and AdVance RTK™ will be critical to vertical markets such as surveying, mapping, precision agriculture, and unmanned systems, where positioning reliability is essential.” AdVance RTK™ delivers significant performance enhancements, including more reliable ambiguity solutions and faster narrow lane convergence on short, medium and long baselines. Time to ambiguity resolution on baselines up to 20 kilometers is virtually instantaneous. As a result, AdVance RTK™ enables users to work more reliably and efficiently in a wider range of conditions. “With faster convergence and availability of high precision solutions across all baselines, AdVance RTK™ delivers significant improvements in performance for many applications, including challenging environments such as construction sites where continuous tracking of satellites is frequently interrupted,” stated Mr. Fenton. “AdVance RTK™ will be the foundation for NovAtel’s future multi-constellation, multi-frequency Global Navigation Satellite System (GNSS) technology developments.” About NovAtelNovAtel Inc. (NASDAQ:NGPS) is a leading provider of precision Global Navigation Satellite System (GNSS) components and subsystems that afford its customers rapid integration of precise positioning technology. The Company’s mission is to provide exceptional return on investment and outstanding service to our customers. An ISO 9001 certified company, NovAtel is focused on developing quality OEM products including receivers, antennas, enclosures and software that are integrated into high precision positioning applications worldwide. These applications include surveying, Geographical Information System (GIS) mapping, precision agriculture machine guidance, port automation, mining, marine and defence industries. NovAtel’s reference receivers are also at the core of national aviation ground networks in the USA, Japan, Europe, China and India. The Company is committed to providing its customers with advanced positioning technology through significant R&D investment focusing on the modernized Global Positioning System (GPS), the revitalized Russian GLONASS and the emerging European Galileo satellite systems, as well as the integration of additional complementary technologies such as Inertial Measurement Units (IMUs). For more information, visit www.novatel.com. Certain statements in this news release, including those about the Company’s future plans and intentions, future performance and market acceptance of its AdVance RTK™ technology, long-term growth prospects, levels of activity or other future events, 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. |
|
|