NovAtel Receives Galileo Safety of Life Receiver Contract.CALGARY, Alberta -- 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) announced today that it has been awarded a contract by CMC Electronics CMC Electronics Inc. (CMC Électronique) is a Canadian electronics company. History The company was founded in 1903 as Marconi's Wireless Telegraph Company of Canada.[1] In 1925 the company was renamed Canadian Marconi Company. Inc., to undertake development of a Galileo Safety of Life (SoL) demonstrator receiver for 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. ). The value of this contract is 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. $500,000. Galileo is Europe's state-of-the-art satellite navigation system satellite navigation system satellite n → système m de navigation par satellite , which is expected to be operational by 2008/10 with up to 30 satellites orbiting the earth, and which is expected to offer several services, including the Safety of Life Service, as a benefit to users equipped with Galileo-compatible receivers. NovAtel will develop a new Galileo E5a/E5b receiver section for addition to the existing Galileo Test Receiver, which NovAtel had previously developed for the CSA under a Space Technology Development Program contract awarded in September 2004. A modified CMC Electronics CMA-3024 Global Navigation Satellite navigation satellite, artificial satellite designed expressly to aid the navigation of sea and air traffic. Early navigation satellites, from the Transit series launched in 1960 to the U.S. navy's Navigation Satellite System, relied on the Doppler shift. Sensor Unit airborne receiver will be integrated with the NovAtel engine. The Galileo Test Receiver originally produced for CSA evaluation and for possible monitoring of prototype Galileo satellites, is based on a modified version of NovAtel's WAAS-GII system, and contains the first operational, near-production standard, dual mode GPS and Galileo dual frequency receiver in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Under the new program, CMC Electronics and NovAtel will also jointly support review and feedback of elements of a parallel Galileo Safety of Life program undertaken by a team of European companies It may never be fully completed or, depending on its its nature, it may be that it can never be completed. However, new and revised entries in the list are always welcome. This is a list of companies from the countries in the European Union. . According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Tony Murfin, NovAtel's Vice President, Business Development, "The SoL program with CMC Electronics and the CSA represents a further key project which adds to NovAtel's growing inventory of Galileo receiver technology. We are pleased that the CSA continues to provide key leadership in Canada's efforts to maintain pace with Europe's extensive investment in the Galileo program, and we look forward to assisting them in their early support of Galileo signal testing." Added Bruce Bailey, CMC (Common Messaging Calls) A programming interface specified by the XAPIA as the standard messaging API for X.400 and other messaging systems. CMC is intended to provide a common API for applications that want to become mail enabled. 1. Electronics' Vice President, Commercial Aviation, "CMC Electronics has more than twenty-five years' experience in the design and manufacture of certified aviation 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) products and is an industry leader in GPS for commercial aviation. The Galileo Safety of Life contract award will ensure that CMC Electronics continues to be at the forefront of this new technology." 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 Geomatics is the discipline of gathering, storing, processing, and delivering of geographic information, or spatially referenced information. Overview The term "Geomatics" refers to:
(2) (International Organization for Standardization, Geneva, Switzerland, www.iso.ch) An organization that sets international standards, founded in 1946. The U.S. member body is ANSI. 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. About CMC Electronics CMC Electronics designs and produces leading technology electronics products for the aviation and global positioning markets. Its principal locations are in Montreal, Quebec; Ottawa, Ontario; and Chicago, Illinois. CMC is a private company controlled by an investor group led by ONCAP L.P. ONCAP is a CDN $400 million investment fund established by Onex Corporation Onex Corporation TSX: OCX is a Toronto based investment firm. It was founded in 1983 by Gerry Schwartz. Today it is a publicly traded company but Schwartz has 67.6% of the voting control and continues to serve as Chairman and CEO. and a number of leading Canadian financial institutions. Onex is a diversified company diversified company A company engaged in varied business operations not directly related to one another. A diversified company is less likely to suffer either a collapse or a spectacular gain in earnings compared with a firm concentrating its operations in a with annual consolidated revenues of approximately CDN $16 billion and consolidated assets of approximately CDN $14 billion. Onex is one of Canada's largest companies with global operations in the service, manufacturing and technology industries. Certain statements in this news release, including those about the Company's prospects for additional Galileo projects, 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) |
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