and Canadian dollar transactions," said John Abel, vice president, Product Management, DTCC.
In split inventories, some portion of a position in a dually listed security is maintained with CDS for Canadian dollar settlement and the remainder is with DTC for U.
As a result of this transaction, Sun Life Financial expects to take a charge to earnings of approximately $45 million in the third quarter of 2005, arising from the depreciation of the Chilean peso against the Canadian dollar
since the interest was acquired in 1998.
This increase resulted from a 14-fold increase in equipment and installation sales and 16% increase in monitoring revenue, even though the Chinese currency (RMB) declined 8% against the Canadian dollar
However, the growth rate in 2005 is not expected to be the exceptional rate of 2004, due to such factors as the weaker US dollar relative to the Canadian dollar and lower revenue from the Company's Aerospace and Defense business as a consequence of the substantial completion of certain contracts pertaining to the US WAAS program at the end of 2004.
dollar to Canadian dollar exchange rate fluctuations, establishing and maintaining effective distribution channels, certification and market acceptance of NovAtel's new products, credit risks of customers and Point, pricing pressures in the market and other competitive factors, maintaining technological leadership, timing of revenue recognition in connection with certain contracts, actions by governmental authorities, and other factors described in our Form 20-F and other SEC filings, many of which are beyond the control of NovAtel.
The Company's functional currency is the Canadian dollar
With the Canadian dollar still below 80 cents, Canada's trade surplus with the U.
If the Canadian dollar continues to gain value, Canadian firms will find it difficult again to compete, and labor costs may deter U.
01 (Canadian) weakening in the Canadian dollar
will increase the Company's tax expense in U.
CDS), the national central securities depository of Canada, that for the first time will support the processing and settlement of Canadian dollar
securities transactions at The Depository Trust Company (DTC), a DTCC subsidiary.