NovAtel Reports Profit for the Second Quarter 2002

NovAtel Reports Profit for the Second Quarter 2002

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August 9, 2002- NovAtel Inc., a global positioning systems manufacturer, has announced results for the second quarter ended June 29, 2002.

Revenues in the second quarter 2002 were CDN $8.0 million (US $5.1 million) compared to CDN $6.5 million (US $4.1 million) in the same period a year ago. The Company is reporting net income for the second quarter 2002 of CDN $295,000 (US $187,000) or CDN $0.04 (US $0.03) per share compared with a net loss of CDN $439,000 (US $278,000) or CDN $(0.06) (US $(0.04)) per share in the same period a year ago.