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News ReleaseNovAtel Inc. Launches Feature-rich Enclosure for its Latest GPS/GNSS Receiver
(Calgary, Alberta, Canada, January 22, 2007) – NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, launched today its next generation DL-V3 – a rugged, feature-rich enclosure housing NovAtel’s GPS/Global Navigation Satellite System (GNSS) OEMV-3 receiver. NovAtel will be shipping the new DL-V3 later this quarter. According to Pat Fenton, CTO for NovAtel, “The DL-V3 further enhances NovAtel’s core OEMV™ Series product line. It demonstrates our customer focus in delivering innovative and new products that meet or exceed industry requirements for accuracy, feature set, performance and cost.” The DL-V3 has many industry-leading features such as Bluetooth for wireless connectivity and Ethernet for remote network access, as well as a removable Compact Flash card for data security and portability. Powered by NovAtel’s OEMV™-3 receiver, the DL-V3 is capable of tracking both GPS and GLONASS, and future GPS L5, signals. It delivers sub-meter positioning using OmniSTAR® or Canada-wide Differential Global Positioning System (CDGPS) L-band correction services. Real-time Kinematic (RTK) solutions, including NovAtel’s latest AdVance™ technology, that deliver centimeter-level positions are available for more demanding applications. The DL-V3 also features NovAtel’s patented PAC multipath mitigation technology with enhanced Vision functionality planned for future firmware updates. “We believe the new DL-V3 will build on the success of our previous Data Logger (DL) products. As the first NovAtel product to offer Ethernet connectivity, coupled with enhanced satellite tracking capabilities including GLONASS and GPS modernization (L2C & L5), the DL-V3 will be attractive to system integrators and developers from varied vertical and geographical market sectors,” said Graham Purves, NovAtel’s VP Sales. 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, market acceptance and expected shipments of its DL-V3 product, 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. |
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