SOURCE: FLIR Systems, Inc.

FLIR Systems, Inc.

February 15, 2017 07:00 ET

FLIR Systems Awarded Contract Totaling $50 Million from U.S. Coast Guard for Integrated Navigation Electronics

WILSONVILLE, OR--(Marketwired - Feb 15, 2017) - FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has been awarded a $50 million indefinite delivery, indefinite quantity contract to provide marine electronics systems under the U.S. Coast Guard's Scalable Integrated Navigation Systems 2 (SINS-2) program over a five-year period providing the purchaser a right to extend delivery for an additional five years. FLIR will provide electronics systems that will be standard fit on over 2,000 U.S. Coast Guard vessels, ranging from small-class boats through large cutter-class vessels. The systems include Raymarine multi-function navigation displays, radars, sonars, remote instrument displays, and autopilots. All of these components will be integrated with the Raymarine Lighthouse operating system for simple operation, single-point upgradeability, and will include advanced features specifically developed for the U.S. Coast Guard.

To support the U.S. Coast Guard's search and rescue mission, the Raymarine LightHouse operating system offers pre-programmed SAR (search and rescue) patterns, allowing the U.S. Coast Guard to more effectively execute coordinated multi-vessel SAR operations. The LightHouse based SINS-2 system also features advanced graphical target intercept tools and encrypted communications designed to increase safety, ensure situational awareness, and enhance mission success rates.

Additionally, FLIR's SINS-2 products offer a rich integration with existing FLIR M-Series and SeaFLIR® thermal imaging cameras currently in use by many U.S. Coast Guard boats and cutters. This integration will help the U.S. Coast Guard streamline configuration management, installation, and crew readiness while improving overall efficiency.

"We are very pleased to have been chosen by the U.S. Coast Guard as their supplier for the next generation of advanced situational awareness and marine navigation equipment. Produced under our unique Commercially Developed - Military Qualified (CDMQ™) model, the FLIR SINS-2 product suite offers powerful functionality, proven reliability, and simple operation, leveraging the strengths of both our FLIR and Raymarine product lines," said Andy Teich, President and CEO of FLIR. "Enhancing safety and situational awareness is at the heart of what we do every day at FLIR. We look forward to continuing our successful long-standing relationship with the U.S. Coast Guard in supporting their important lifesaving and homeland security missions."

FLIR's Maritime segment will commence delivery of SINS-2 marine electronics within the next three months.

About FLIR Systems
FLIR Systems, Inc. is a world leader in the design, manufacture, and marketing of sensor systems that enhance perception and awareness. FLIR's advanced thermal imaging and threat detection systems are used for a wide variety of imaging, thermography, and security applications, including airborne and ground-based surveillance, condition monitoring, research and development, manufacturing process control, search and rescue, drug interdiction, navigation, transportation safety, border and maritime patrol, environmental monitoring, and chemical, biological, radiological, nuclear, and explosives (CBRNE) detection. For more information, go to FLIR's web site at www.FLIR.com.

Forward-Looking Statements
The statements in this release by
Andy Teich and the other statements in this release about the products 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 FLIR'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 pricing of FLIR's products, changing demand for FLIR's products, product mix, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, the ability of FLIR to manufacture and ship products in a timely manner, FLIR's continuing compliance with U.S. export control laws and regulations, and other risks discussed from time to time in FLIR'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 FLIR 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.

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