(NGPS) is a leading provider of precise global positioning and augmentation technologies. Their core technology is used in positioning markets around the globe including agriculture, mining, marine, surveying, unmanned systems and machine control. Also, (NGPS) is the prime supplier of Global Positioning Systems (GPS) for ground reference receivers to national satellite-based augmentation systems worldwide including U.S. WAAS, Europe EGNOS, Japan MSAS and China SNAS. To get a better understanding of what all this means, I suggest a visit to their website… www.novatel.com
The following are just a few of the recent and expected events that in my opinion makes (NGPS) a nice little stock to own going forward into 2004:
NovAtel Inc. announced that it has received three letter contracts, worth a total $1,266,000 from Raytheon Company to begin production of a Common Reference Receiver (CRR), and to continue development and build of engineering unit models of the Ground Uplink System (GUS) receiver and GUS Signal Generator. These programs are part of the Federal Aviation Administration's (FAA) Wide Area Augmentation System (WAAS) FOC Upgrade System and the new WAAS Geostationary Communication & Control Segment (GCCS). In addition to the above letter contracts, NovAtel and Raytheon expect to further definitize these contracts before the end of the year. Provided NovAtel's development proposals are accepted and the corresponding contracts awarded, the Company expects this work to provide revenues of up to $7.9 million over the next three years.
NovAtel Inc. Raises FY 2003 Outlook
2003 Nov 3 8:38 AM
NovAtel Inc. announced that for the balance of the year, including the benefit of the L1 business acquired from CMC Electronics Inc., the Company's current guidance for the full year 2003 is revenue of $37.5 million (US $28.6 million), up from its previous guidance of $36.0 million, and net income of $2.9 million (US $2.2 million), (including income from discontinued operations of $344,000), which is ahead of its previous guidance of $1.8 million. According to Reuters Research, analysts expected the Company to earn $0.22 per share on revenues of $35.8 million for the full year 2003.
NovAtel Inc. Selected To Develop a GPS Differential System For the ION and the National Aeronautic Association
2003 Aug 12 5:29 PM
NovAtel Inc. announced that it has been selected by The Institute of Navigation (ION) and the National Aeronautic Association (NAA) to develop a GPS differential system for use by the NAA in establishing straight course speed records for aircraft in flight. The system is expected to be complete by May 2004.
One should note that (NGPS) is a Canadian company, and that insiders control well over 50% of the stock. I personally like to see such ownership, as this shows commitment to the company being successful. This is reflected in the latest Q-3 report that shows YTD revenue growth of 25%, based on same time last year. Also, they are raising revenue and profit projections for the entire year, plus, looking forward to 2004, revenue is expected to grow by this same 25% rate. What is pleasing to see as it relates to 2004 is the projected earnings growth from .22 cents to .60 for the year. Now that is nice growth!!!! |
