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News ReleaseNovAtel Inc. Announces Latest Release of Inertial Explorer™ Software
(Calgary, Alberta, Canada, October 16, 2007) – NovAtel Inc. (NASDAQ: NGPS), a precise positioning technology company, announced the release of version 8.00 of Inertial Explorer – a powerful Global Navigation Satellite System/Inertial Measurement Unit (GNSS/IMU) data processing package that provides an accurate position, velocity and attitude solution by combining raw GNSS observations with IMU data. Inertial Explorer is a key component of NovAtel's GNSS/Inertial Systems product offering that includes SPAN™. This latest software now supports the option of tight integration of the IMU and GNSS data to offer the best possible performance in difficult navigation and mapping environments such as urban canyons. Inertial Explorer is receiver and manufacturer independent, so that data from virtually any GNSS receiver and IMU can be combined to generate an accurate solution. Additional new features in the 8.00 release include improved Application Programming Interface (API) functionality for automated data processing, improved processing and back smoothing of low or variable inertial data rate, support of ½ hour time zones for data export, support of dual event inputs from NovAtel’s SPAN system and better IMU data time gap analysis. According to Graham Purves, Vice President, Sales and Marketing for NovAtel, “The new tightly-coupled GNSS/INS processing option in Inertial Explorer Version 8.00 significantly improves position, velocity and attitude solution performance in difficult GNSS conditions. When combined with the enhanced GPS tracking performance offered by our SPAN system, Inertial Explorer provides the best possible integration of GNSS and IMU data to provide an optimal solution in virtually any environment. This is particularly important for ground mapping customers who are operating in very difficult conditions.” Inertial Explorer Version 8.00 Software updates are available at no additional charge to customers within their support period. Please contact NovAtel’s customer service department at wpsupport@novatel.com or your Waypoint™ dealer for further information. Customers wishing to upgrade from Waypoint’s GNSS-only processing package, GrafNav™, should contact their NovAtel dealer for pricing information. A complete listing of NovAtel dealers can be found at www.novatel.com 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, long-term growth prospects, market acceptance and expected shipments of its post-processing software, 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”, “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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