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News ReleaseNovAtel Inc. Launches New OEMV™ Products and GPS+GLONASS AdVance™ RTK Positioning Technology
(Calgary, Alberta, Canada, April 30, 2007)— NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, launched its new OEMV-1G and FlexPak™-V1G products with GPS+GLONASS positioning solutions. Also, full GPS+GLONASS AdVance RTK (Real Time Kinematic) positioning capabilities are available on all existing OEMV-2 and OEMV-3 products via its 3.2 firmware release. GLONASS is the Russian counterpart to the United States’ GPS satellite system. These latest Global Navigation Satellite System (GNSS) products and firmware support NovAtel’s strategy to continue to develop GPS augmented solutions that offer a compelling price/performance advantage for customers. NovAtel’s new GPS+GLONASS positioning technology provides significant improvement in satellite coverage, which enables reliable positioning and precise navigation even in obstructed environments where GPS only receivers may be limited by poor satellite availability. NovAtel’s new OEMV-1G receiver has been developed as a small, low power, dual constellation product for system integrators and developers in a variety of precise positioning applications and markets. NovAtel’s FlexPak-V1G enclosure houses the OEMV-1G and is rugged and lightweight, making it ideal for environmentally challenging or portable applications. According to Graham Purves, Vice President, Sales for NovAtel, “Following the successful launch of our new high performance AdVance RTK, the addition of GLONASS processing capabilities should further differentiate NovAtel as a leader in precise positioning technology. Also, we are confident that the addition of GLONASS on our OEMV-1G receiver will open the door to many new applications within diverse market sectors.” 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 OEMV-1G and FlexPak-V1G products, 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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