Contact Information: Company contact: Tony Trunzo FLIR Systems, Inc. (503) 498-3547 www.flir.com
FLIR Systems Announces $125.3 Million Requirements Contract and $67.3 Million Initial Delivery Order From Naval Surface Warfare Center
| Source: FLIR Systems, Inc.
PORTLAND, OR--(Marketwire - October 2, 2008) - FLIR Systems, Inc. (NASDAQ : FLIR ) announced
today that it has received a $125.3 million, five-year requirements
contract from NSWC, Crane Division for its BRITE Star® II multi-sensor
target designation systems. FLIR also announced the receipt of a $67.3
million initial delivery order under this contract. The units delivered
under this contract will be used by the U.S. Marine Corps and U.S. Navy for
various missions including search and rescue, reconnaissance, and attack.
Work will be performed at FLIR's facilities in Wilsonville, OR. Deliveries
for this initial order are expected to begin in early 2009 and be completed
within 24 months of initial shipment.
"This contract demonstrates FLIR's position as a leading, world-class
supplier of sophisticated, EO/IR laser designation systems," said Earl R.
Lewis, President and CEO of FLIR Systems, Inc. "We are proud of our
long-standing service to the U.S. Marines and are pleased to add the Marine
Corps to the list of BRITE Star® II customers that includes the Army and
the Navy."
Forward-Looking Statements
The statements in this release by Earl R. Lewis, and the other statements
in this release about the contract and order described above, are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements are based on current
expectations, estimates and projections about the Company's business based,
in part, on assumptions made by management. These statements are not
guarantees of future performance and involve risks and uncertainties that
are difficult to predict. Therefore, actual outcomes and results may differ
materially from what is expressed or forecasted in such forward-looking
statements due to numerous factors, including the following: the ability to
manufacture and deliver the systems referenced in this release, changes in
demand for the Company's products, product mix, the timing of deliveries
under the order discussed above, the impact of competitive products and
pricing, constraints on supplies of critical components, excess or shortage
of production capacity, the ability of the Company to manufacture and ship
products in the time period required, actual purchases under agreements,
the continuing eligibility of the Company to act as a federal contractor,
the amount and availability of appropriated government procurement funds
and other risks discussed from time to time in the Company's Securities and
Exchange Commission filings and reports. In addition, such statements could
be affected by general industry and market conditions and growth rates, and
general domestic and international economic conditions. Such
forward-looking statements speak only as of the date on which they are made
and the Company does not undertake any obligation to update any
forward-looking statement to reflect events or circumstances after the date
of this release, or for changes made to this document by wire services or
Internet service providers.
About FLIR Systems
FLIR Systems, Inc. is a world leader in the design, manufacture and
marketing of thermal imaging and stabilized camera systems for a wide
variety of thermography and imaging applications including condition
monitoring, research and development, manufacturing process control,
airborne observation and broadcast, search and rescue, drug interdiction,
surveillance and reconnaissance, navigation safety, border and maritime
patrol, environmental monitoring and ground-based security. Visit the
Company's web site at www.FLIR.com.