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News ReleaseNovAtel Inc. Launches OEMV™ Product Line Enhancements at International GNSS Conference
(Fort Worth, Texas, USA, September 26, 2007) — 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 the latest enhancements to its OEMV product line, including Version 3.210 firmware release and the new SMART-V1G enclosure. NovAtel has been focusing on increasing accuracy and quality at many levels within the OEMV product line. The latest OEMV Version 3.210 firmware features many performance enhancements, including the addition of GLONASS measurement and position capability into NovAtel's single frequency AdVance™ Real Time Kinematic (RTK) product models. The benefit to users is significantly faster convergence times and increased productivity. The OEMV Version 3.210 firmware also features accuracy improvements for Satellite Based Augmentation Systems (SBAS) yielding 60 centimeter or better stand-alone positioning in Wide Area Augmentation System (WAAS), European Geostationary Navigation Overlay Service (EGNOS) and Canadian Differential Global Positioning System (CDGPS) correction services. NovAtel is committed to working to improve the performance of these correction services for customers and is currently the only manufacturer to incorporate and support CDGPS in its positioning receivers. Additional message support for improved network RTK and a new smoother positioning filter are also highlights of this latest firmware release. NovAtel’s new SMART-V1G enclosure is based on the current SMART-V1 enclosure and gives users more flexibility when choosing a rugged smart antenna. The L1 SMART-V1G incorporates the new OEMV-1G card and Version 3.210 firmware to provide users with enhanced solution availability by using both GPS and GLONASS satellites. The SMART-V1G’s dual-constellation capability results in superior RT-20™ performance from a small self-contained enclosure. "These OEMV product line enhancements highlight NovAtel's commitment to improve and extend the usability and performance of our OEMV receivers, providing the best possible precise positioning solutions to a growing and diverse customer base," said Graham Purves, Vice President, Sales and Marketing for NovAtel. 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 firmware 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, financial guidance, risk factors, long-term growth prospects, levels of activity or other future events, 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, operating model, 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”, “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”), U.S. dollar to Canadian dollar exchange rate fluctuations, establishing and maintaining effective distribution channels, certification and market acceptance of NovAtel’s new products, the impact and timing of large orders, dependence on key customers, 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, including the proposed merger between Sokkia Co. Ltd. and Topcon Corp., 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, 2006 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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