Hemisphere GPS Is Official Company Name
In addition, the company’s stock is now trading under the new ticker symbol “HEM” on the Toronto Stock Exchange.
The name change communicates the reemergence of a pure-play GPS company following the discontinuance of the company’s wireless businesses in 2006. Hemisphere GPS serves the growing demand for accuracy and machine control applications, and owns various product brands including Crescent GPS and Outback Guidance. Record GPS sales were reported for the first quarter of 2007.
“The decision to focus exclusively on GPS was made based on the strengths of our GPS technology and products, and our market share leadership and sound industry reputation in our key markets of Ground Agriculture, Air, and Marine,” stated Steve Koles, president and CEO of the company. “We are already leveraging these strengths as the long term forecasts for these industries are very positive. We are preparing for the anticipated demand.”