Contact Information: Company contact: Tony Trunzo FLIR Systems, Inc. (503) 498-3547 www.flir.com
FLIR Systems Announces Receipt of $12.9 Million Delivery Order and $11.2 Million Service Contract Modification From the U.S. Army
| Source: FLIR Systems, Inc.
PORTLAND, OR--(Marketwire - November 25, 2008) - FLIR Systems, Inc. (NASDAQ : FLIR ) announced
today that it has been awarded a new delivery order totaling $12.9 million
for its Star SAFIRE® III stabilized multi-sensor systems, and an $11.2
million modification to a Performance Based Logistics (PBL) support
contract from the U.S. Army Space and Missile Defense Command in
Huntsville, Alabama.
The $12.9 million delivery order is issued under a previously announced
$358.4 million contract modification on an existing indefinite delivery,
indefinite quantity contract. The units delivered under this order will
support the Marine Corps Ground-Based Operational Surveillance System
(G-BOSS) program. Work on the delivery order will be completed within the
next twelve months in FLIR's Wilsonville, Oregon facility.
The PBL contract provides for service, upgrades, and logistics support for
certain U.S. Army and USMC programs. The $11.2 million modification fully
funds an existing $71.6 million contract. Including deliveries made
year-to-date, revenue under this modified contract is expected to be
approximately $15 million in 2008. Work under the PBL 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 delivery order and contract modification demonstrates the value of
our systems for force protection applications and our logistics
capabilities. We are pleased the U.S. Army has once again chosen FLIR for
the critically important force protection mission," said Earl R. Lewis,
President and CEO of FLIR.
Forward-Looking Statements
The statements in this release by Earl R. Lewis and the other statements in
this release about the order and modification 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 customer
orders and deliveries under the contracts 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, the
continuing eligibility of the Company to act as a federal contractor, the
amount and availability of appropriated government procurement funds, the
receipt of any required export licenses 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.