News

NovAtel Record Revenues

May 23, 2004

NovAtel Inc., a global positioning systems manufacturer, as announced financial results for the first quarter ended 31st March.
Revenues in the first quarter of 2004 were CDN$ 12.5 million (US$ 9.5 million) compared to CDN$ 6.9 million (US$ 4.5 million) in the similar period a year ago. The company is reporting net income for the first quarter 2004 of CDN$ 2.1 million (US$ 1.6 million) or CDN$ 0.27 (US$ 0.20) per share compared to a net income of CDN$ 15,000 (US$ 10,000) or CDN$ 0.00 (US$ 0.00) per share in the similar period a year ago.

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