| Income Statement for NovAtel Inc. (NGPS) | | | | | | | Income | in Thousands of Dollars | | | 12/2006 | 12/2005 | 12/2004 | 12/2003 | 12/2002 | | | Operating Revenue | 66,641 | 54,427 | 44,947 | 30,030 | 21,244 | | Adjustments to Revenue | - | - | - | - | - | | Cost of Revenue | (22,974) | (18,768) | (16,857) | (12,950) | (8,945) | | Gross Operating Profit | 43,667 | 35,659 | 28,090 | 17,080 | 12,299 | | | Selling/General/Admin Expense | (13,648) | (11,582) | (9,848) | (7,413) | (6,449) | | Research & Development | (11,545) | (9,357) | (7,991) | (5,530) | (3,507) | | EBITDA | 18,474 | 14,720 | 10,251 | 4,137 | 2,343 | | Depreciation & Amortization | (2,870) | (2,416) | (1,897) | (1,311) | (1,269) | | EBIT | 15,604 | 12,304 | 8,354 | 2,826 | 1,074 | | Interest Income | 1,442 | 677 | 261 | 135 | 53 | | Other Income, Net | (74) | (281) | (552) | (515) | (127) | | Total Income Avail For Interest Expense | 16,972 | 14,069 | 11,693 | 2,446 | 1,000 | | Interest Expense | - | - | - | - | - | | Pre-Tax Income | 16,972 | 14,069 | 11,693 | 2,446 | 1,000 | | Income Taxes | 1,476 | 306 | (1,031) | (40) | (49) | | Minority Interest | - | - | - | - | - | | Net Income from Continuing Operations | 18,449 | 14,374 | 10,663 | 2,407 | 951 | | Net Income from Discontinued Operations | - | - | 18 | 279 | - | | Net Income from Total Operations | 18,449 | 14,374 | 10,681 | 2,686 | 951 | | | Normalized Income | 18,449 | 13,005 | 7,033 | 2,407 | 951 | | Extraordinary Income | - | - | - | - | - | | Special Income/Charges | - | 1,369 | 3,630 | - | - | | Income from Cum. Effect of Acct Change | - | - | - | - | - | | Income from Tax Loss Carryforward | - | - | - | - | - | | Other Gains | - | - | - | - | - | | Total Net Income | 18,449 | 14,374 | 10,681 | 2,686 | 951 | | | Results | in Dollars (Preferred Dividends in Thousands) | | | 12/2006 | 12/2005 | 12/2004 | 12/2003 | 12/2002 | | | Dividends Paid Per Share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | | Preferred Dividends | - | - | - | - | - | | | Basic EPS from Continuing Operations | 2.18 | 1.73 | 1.33 | 0.31 | 0.12 | | Basic EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.04 | 0.00 | | Basic EPS from Total Operations | 2.18 | 1.73 | 1.33 | 0.35 | 0.12 | | | Diluted EPS from Continuing Operations | 2.09 | 1.64 | 1.26 | 0.30 | 0.12 | | Diluted EPS from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.03 | 0.00 | | Diluted EPS from Total Operations | 2.09 | 1.64 | 1.26 | 0.33 | 0.12 | | | |
