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Technology Stocks : NovAtel - Global Positioning Systems -- Ignore unavailable to you. Want to Upgrade?

To: Robert T. Quasius who wrote (62)	12/22/1997 4:08:00 PM
From: David Rubin	Read Replies (1) \| Respond to of 191

My wish was granted -- a press release about the shipment of more WAAS receivers. And the market greets this wonderful news with ... -7/16. I certainly can't figure this one out. WAAS sales have picked up dramatically. This should provide a nice earnings boost. Maybe then the volume will return and we'll get another run. ---------- CALGARY, Dec. 22 /PRNewswire/ -- NovAtel Inc. (Nasdaq: NGPSF) today announced that the Company has received another order from Hughes Information Systems for an additional 7 (seven) Global Positioning System (GPS) receivers. These receivers will be used in Phase 1 of the US FAA development and field implementation of satellite-based navigation services. Hughes was awarded a contract by the FAA in May 1996 for the design, development, integration, test and maintenance of WAAS. This program is considered to be the first step toward achieving a future integrated, worldwide Global Navigation Satellite Systems (GNSS). WAAS, intended to eventually replace current radio-based navigation and instrument approach systems, will contribute to increased safety and efficiency of international aviation. This will reduce aircraft separation requirements, increase the number of flights on busy routes, and facilitate the next generation of aircraft approach systems. NovAtel's recent sales order from Hughes follows previous WAAS program receiver deliveries in August 1996 (Qty 28), May 1997 (Qty 9) and the recent order in August 1997 (Qty 77) which is being delivered September 1997 through January 1998. According to Tony Murfin, NovAtel's Director of Corporate Accounts and WAAS Product Manager, "These additional receivers are configured specifically for integration in the WAAS Ground Uplink System (GUS). They decode the Geostationary Satellite (GEO) downlink and provide pseudorange, time and message feedback to the GUS signal generation system. We believe that this latest sales order emphasizes the key role which NovAtel receivers play in the WAAS program." NovAtel's WAAS Standard and GUS receivers address the enhanced accuracy (the difference between the measured position and the actual position at any given time) and integrity (the ability to provide timely warnings to users) requirements of the FAA WAAS program. The key GPS technologies used in these receivers are the company's patented Narrow Correlator, Multipath Estimating Delay Lock Loop (MEDLL), MiLLennium dual frequency receivers, and GEO signal processing. NovAtel designs, markets, and supports a broad range of products that determine precise geographic locations using GPS. NovAtel's GPS products are used principally for applications in high-end markets such as surveying, geographic information systems, agriculture, aviation, marine, and mining and machine control.