Novatel (MM) (NASDAQ:NGPS)
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NovAtel Inc. (NASDAQ:NGPS), a precise positioning
technology company, today announced that its new line of OEMV Global
Positioning System (GPS) receivers will also be capable of tracking
satellites from the growing Global Navigation Satellite System
(GLONASS) constellation. Initial releases of the OEMV-2 and OEMV-3
models are expected to be available to customers by the end of March,
as previously announced in September 2005, and will include
dual-frequency GLONASS measurements as an option. Future releases
will include full position and Real-time Kinematic (RTK) options as
well as a GLONASS enabled, single-frequency OEMV-1 model.
GLONASS is a radio satellite navigation system operated for the
Russian government by the Russian Space Forces. It is the Russian
counterpart to the United States' GPS and the European Union's future
Galileo positioning systems. NovAtel's announcement of GPS+GLONASS
capable OEMV receivers follows a recent launch of new GLONASS
satellites and a commitment from the Russian government to continue
to strengthen the existing GLONASS constellation.
"The introduction of GPS+GLONASS receiver technology across our
new product line supports NovAtel's long term strategy of providing
highly competitive global positioning technology with compelling
price/performance to our worldwide customer base. The real benefit to
users of combining GLONASS measurements with GPS is the significant
improvement in line-of-sight satellite coverage, which can allow
reliable positioning and precise navigation even in obstructed
environments where GPS alone doesn't work," said Jon Ladd, President
& CEO of NovAtel.
The OEMV receivers set a new standard in performance, feature set
and integration. In addition to GLONASS capability, the OEMV product
line supports modernized GPS signals and frequencies (L2C and L5),
NovAtel's latest Vision Correlator(TM) multipath mitigation
technology, an expanded Application Programming Interface (API), and
integrated L-band functionality. NovAtel's OEMV receivers are also
designed to meet the European Union's new Restriction of Hazardous
Substances (RoHS) directive, which comes into effect in mid-2006.
"Customer beta testing of the OEMV family has been very positive.
We have seen a very high quality of raw measurement data for both GPS
and GLONASS," added Pat Fenton, CTO of NovAtel. "With these
impressive results and the industry leading performance of Vision
Correlator, our latest multipath mitigation technology, we are
confident that the OEMV family will be a highly competitive product
line."
About NovAtel
NovAtel designs, markets and sells high-precision GPS and other
positioning components and sub-systems used in a wide variety of
commercial applications principally in the aviation, geomatics
(surveying and mapping), mining, precision agriculture, marine and
defence industries. NovAtel is also the principal supplier of
reference receivers to national aviation ground networks in the US,
Japan, Europe, China and India. NovAtel's solutions combine hardware,
such as receivers and antennas, with software to enable its customers
to fully integrate the Company's high-precision GPS technology into
their respective products and systems. NovAtel, an ISO 9001 certified
company, is focused on supplying core high-precision positioning
technology to OEMs and system integrators who build systems for
various end market applications. For more information, visit
www.novatel.com.
Certain statements in this news release, including those about
the Company's future plans and intentions, and future performance and
market acceptance of its OEMV technology, 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, timely launch of new
products, certification and market acceptance of NovAtel's new
products, impact and timing of large orders, 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, 2004 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.
NOVATEL INC. (Nasdaq:NGPS)