Contact Information: Company contact: Tony Trunzo FLIR Systems, Inc. (503) 498-3547 www.flir.com
FLIR Systems Announces $11.1 Million Modification to Service Contract From the U.S. Army
| Source: FLIR Systems, Inc.
PORTLAND, OR--(Marketwire - August 28, 2008) - FLIR Systems, Inc. (NASDAQ : FLIR ) announced
today that it has been awarded a $11.1 million modification to a
Performance Based Logistics (PBL) support contract from the U.S. Army Space
and Missile Defense Command in Huntsville, Alabama. This contract provides
for service, upgrades, and logistics support for certain U.S. Army and USMC
programs. The total value of the contract has been increased to $71.6
million. Including deliveries made so far this year, revenue under this
modified contract is expected to be approximately $15 million in 2008.
Work under this contract will be performed over time as required to support
the installed base of Star SAFIRE® III and THV-3000 systems in use under
these programs.
"This contract modification, an extension of FLIR's strong relationships
with the U.S. Army and the U.S. Marine Corps, demonstrates our expanding
capability to provide Performance Based Logistics in support of our growing
installed base," said Earl R. Lewis, President and CEO of FLIR. "We are
pleased the U.S. Army has chosen FLIR for this critically important
mission."
Forward-Looking Statements
The statements in this release by Earl R. Lewis and the other statements in
this release about the contract described in this News Release, 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
repair, upgrade and deliver the systems referenced in this release, changes
in demand for the Company's products, the timing of customer orders and
deliveries under the agreement discussed above, excess or shortage of
production capacity, the ability of the Company to repair, upgrade and ship
products in the time period required, actual repair orders under
agreements, the Company's continuing compliance with US export control laws
and regulations, the timely receipt of export authorization for the
services to be performed under the agreement, 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