Novatel (MM) (NASDAQ:NGPS)
Historical Stock Chart
From Jun 2019 to Jun 2024
NovAtel Inc. (NASDAQ:NGPS), a precise positioning
technology company, announced the release of its first production
standard Galileo-ready receiver and antenna. NovAtel's new L1L5E5a
receiver offers superior 16 channel tracking of GPS L1/L5, Galileo
L1/E5a and SBAS signals in a Euro form-factor card, packaged in a
EuroPak enclosure. The complementary 704X passive antenna offers
access to multiple Global Navigation Satellite Systems (GNSS)
including GPS, Galileo and GLONASS frequencies.
Currently, the Galileo functionality of the L1L5E5a receiver is
available only to customers authorized by the European Space Agency
(ESA), due to an intense test campaign that ESA is conducting with
GIOVE-A, the first Galileo test satellite launched December 28, 2005.
"The EuroPak-L1L5E5a receiver is ideally suited for customers, such
as government agencies and universities, who want early access to the
new GPS GEO L1 and L5 satellite signals and Galileo L1 and E5a
signals for research purposes," said Tony Murfin, NovAtel's VP
Business Development. "Our L1L5E5a receivers, which were initially
developed under contract with the Canadian Space Agency, were first
demonstrated in May 2005 and have undergone engineering testing. I am
very pleased that NovAtel is able to offer a production standard
Galileo-ready receiver at this early date."
"NovAtel's new 704X passive antenna has been designed and
qualified to operate over a number of operational satellite
navigation bands, including GPS, Galileo, GLONASS and L-band. This
antenna is one of the very earliest on the market to be designed with
the capability to pick up signals from all of these available
satellite navigation systems, and is intended for use with the
L1L5E5a receiver," continued Mr. Murfin. "The 704X wideband passive
antenna expands NovAtel's patented Pinwheel(TM) technology for
excellent multipath rejection and phase center stability."
Galileo is the European Union's state-of-the-art GNSS system,
which is expected to be fully operable by 2008 with up to 30
satellites orbiting the earth. It is designed for both civilian and
government purposes and will be controlled and operated by civil
management. The Galileo system is planned to be composed of: a
constellation of 30 satellites; a number of globally located ground
stations; and a ground control and monitoring system - similar to
GPS. Development of the Galileo system has been underway since 2001.
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, future performance and
market acceptance of its Galileo technology and expected shipments
into the Galileo system, 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)