FLIR Systems Announces $3.2 Million Order From US DOD
First Delivery Order Under New $27 Million IDIQ Contract
PORTLAND, OR--(Marketwire - October 22, 2007) - FLIR Systems, Inc. (NASDAQ: FLIR) announced
today that it has received a $3.2 million order from the United States
Department of Defense for its next generation, lightweight, high
performance thermal imager. This represents the first delivery order under
a newly awarded $27 million indefinite delivery, indefinite quantity
contract. The units delivered under this order will be used by the U.S.
military for reconnaissance and surveillance missions.
The system was developed in conjunction with customer participation and
represents the latest in long range, man-portable thermal imaging system
capability. The system weighs less than 5 pounds, incorporates high
magnification optics and runs on commercially available batteries.
Work will be performed at FLIR's facilities in North Billerica, MA.
Deliveries will begin in 2007 and extend into 2010.
"This contract further demonstrates FLIR's leadership position with the
U.S. military and the company's ability to rapidly field new technology in
response to emerging customer requirements," commented Earl R. Lewis,
Chairman, President and CEO of FLIR Systems. "We are delighted to support
this important customer in its ongoing mission."
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, 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.
Contact Information: Company contact:
Tony Trunzo
FLIR Systems, Inc.
(503) 498-3547
www.flir.com