FLIR Systems Announces $20 Million Order From U.S. Navy
PORTLAND, OR--(Marketwire - August 16, 2007) - FLIR Systems, Inc. (NASDAQ: FLIR) announced
today that it has been awarded a $20 million order from the U.S. Navy for a
variant of its SeaFLIR® III stabilized, lightweight multi-sensor systems.
This order was made pursuant to a previously awarded five-year, $75 million
indefinite delivery, indefinite quantity contract. The units delivered
under this contract will support ongoing U.S. Navy programs. Work on the
delivery order will begin immediately and be performed over the next year
in FLIR's Boston, Massachusetts production facility. Including this order,
FLIR will have delivered over 250 systems in the SeaFLIR® product line to
the Navy community.
"This contract, a continuation of FLIR's relationship with the U.S. Navy,
demonstrates the value of our systems for diverse, Naval small-craft
applications. We are pleased the U.S. Navy has once again chosen FLIR
products for this critical mission," said Earl R. Lewis, President and CEO
of FLIR Systems, Inc.
Forward-Looking Statements
The statements in this release, including the statements of Earl R. Lewis,
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 customer
orders and deliveries under the agreement discussed above, the impact of
competitive products and pricing, the Company's continuing compliance with
US export control laws and regulations, the timely receipt of export
licenses for international shipments, 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.
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.
Contact Information: Company contact:
Tony Trunzo
FLIR Systems, Inc.
(503) 498-3547
www.flir.com