SOURCE: FLIR Systems, Inc.

October 01, 2007 16:05 ET

FLIR Systems Announces $48 Million IDIQ Contract From Naval Surface Warfare Center

PORTLAND, OR--(Marketwire - October 1, 2007) - FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has received a $48 million indefinite delivery, indefinite quantity contract from NSWC, Crane Division for its Recon III long-range, hand-held imagers. FLIR also announced the receipt of a $0.3 million initial delivery order under this contract. The units delivered under this contract will be furnished to the United States Special Operations Command to equip SOF teams with a Hand Held Imaging-Long Range (HHI-LR) capability.

The Recon III lightweight thermal binocular has established a new benchmark for performance and operability. Utilizing both a long-wave, uncooled imager and high-sensitivity, mid-wave InSb sensor for long-range viewing, the Recon III includes advanced features such as picture-over-picture capability for situational awareness, digital zoom, a laser pointer, a digital magnetic compass, and a GPS link.

Work will be performed at FLIR's facilities in North Billerica, MA. Deliveries will begin in 2007 and extend into 2012.

"This contract once again demonstrates FLIR's leadership position in providing thermal imaging products to the Special Operations Community," 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, 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