NovAtel Inc. Awarded Contract for Galileo Interoperability Study.Business Editors/High-Tech Writers CALGARY, Alberta--(BUSINESS WIRE)--Nov. 5, 2002 NovAtel Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :NGPS), a precise positioning technology company, announced today a $142,000 (CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. ) contract award by Public Works & Government Services Canada for an Interoperability study on the receiver requirements for Galileo. Galileo is the European Union's state-of-the-art Global Navigation Satellite System For the global navigation satellite system operated by Russia, see . Global Navigation Satellite System (GNSS) is the standard generic term for satellite navigation systems that provide autonomous geo-spatial positioning with global coverage. (GNSS (Global Navigation Satellite System) The European term for a global satellite-based radio navigation system. See Galileo. ), which is expected to be fully operable by 2008 with up to 30 satellites orbiting the earth. This contract, sponsored in Canada by the Canadian Space Agency The Canadian Space Agency (CSA or, in French, l'Agence spatiale canadienne, ASC) is the Canadian government space agency responsible for Canada's space program. It was established in March 1989 by the Canadian Space Agency Act and sanctioned in December 1990. (CSA (1) (Canadian Standards Association, Toronto, Ontario, www.csa.ca) A standards-defining organization founded in 1919. It is involved in many industries, including electronics, communications and information technology. ), focuses principally on both GPS and Galileo receiver requirements and system performance. NovAtel will study the requirements for a combined GPS/Galileo receiver. The University of Calgary, also located in Calgary, Canada, will work under a subcontract to NovAtel to analyze the performance of the system using system constellation modeling techniques. "NovAtel has previously undertaken work on Galileo signal verification, user receiver and ground reference receiver requirements," said Tony Murfin, NovAtel's Vice President of Business Development. "This latest contract award is another important step forward for Galileo, and NovAtel's participation in the program. NovAtel is proud to work with the CSA in making important research and development contributions to this new leading-edge global navigation system." "The continued support of the Canadian Space Agency regarding Galileo is very important in securing Canada's role in the program and ensuring that its leading academic sector and industry are able to meet the challenge," said Professors Gerard Lachapelle and Elizabeth Cannon, Department of Geomatics Engineering, who lead the project on behalf of the University of Calgary. Currently, NovAtel supplies GPS navigational receivers to national satellite-based augmentation systems (SBAS (Satellite-Based Augmentation System) See GPS augmentation system. ) including the U.S. WAAS, the European EGNOS (European Geostationary Navigation Overlay Service) A European system of earth stations and satellites that improves the tracking accuracy of the GPS and GLONASS navigation systems down to approximately 15 feet. , Japanese MSAS, and Chinese SNAS. These complex receivers incorporate NovAtel's Narrow Correlator (tracking technology and MEDLL MEDLL Multipath Estimating Delay-Lock-Loop (Novatel) MEDLL Multipath Estimation Delay Lock Loop technologies, process WAAS signals from geostationary satellites, and include dual frequency L1/L2 signal reception. The University of Calgary, through its Department of Geomatics Engineering, is a world leading academic institution in satellite-based navigation and positioning research and training of highly qualified personnel. Research related to GPS began 20 years ago, while involvement with Galileo began in 2000. More information is available on the website www.geomatics.ucalgary.ca NovAtel Inc. designs, markets and supports a broad range of products that determine precise geographic locations using the Global Positioning System Global Positioning System: see navigation satellite. Global Positioning System (GPS) Precise satellite-based navigation and location system originally developed for U.S. military use. (GPS) and is the principal supplier of reference receivers to WAAS ground networks around the world. NovAtel's GPS products are used principally for applications in precision markets such as the surveying, geographic information systems, aviation, marine, mining, machine control, agriculture and precise timing markets. For further information please visit our website at www.novatel.com. Certain statements in this news release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company, or developments in the Company's industry, to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to, operating results of subsidiaries and joint ventures, establishing and maintaining effective distribution channels, certification and market acceptance of the Company's new products, impact and timing of large orders, credit risks of customers and joint ventures, financing of joint ventures, 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, and the impact of industry consolidations, together with the other risks and uncertainties described in Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations herein and in the Company's other filings with the United States Securities and Exchange Commission. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion