International Dredging Review

International Dredging Review
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NovAtel will hold a conference call today (November 4) at 4:30 p.m. eastern time which will provide an update on the company’s guidance for the rest of this year and an update on Point Inc. the company’s joint venture with Sokkia Co. Ltd. The call will be webcast and can be accessed at NovAtel’s website www.novatel.com or at www.companyboardroom.com.

The company announced 2002 third quarter revenues of Canadian (CDN) $6.8 million (US $4.3 million). This is a net loss of CDN$308000 (US$196000) or CDN $.04 (US$.03) per share.

|!|I am pleased that through a combination of cost control measures and increased contract engineering revenue we were able to limit the third quarter loss to $308000 and to remain profitable year to date”” said Jon Ladd president and chief executive officer.