SOURCE: FLIR Systems, Inc.

September 19, 2006 07:45 ET

FLIR Systems Receives $6.7 Million Order From US Navy

PORTLAND, OR -- (MARKET WIRE) -- September 19, 2006 -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has received an order valued at $6.7 million from the US Navy's Naval Surface Warfare Center - Crane for the delivery of Enhanced Targeting Sight (ETS) Infrared Imaging Systems. This order is the first production order under an indefinite delivery/indefinite quantity contract from the US Navy valued at approximately $35 million. Future orders under the contract are subject to available funding. The work will be performed at FLIR's North Billerica, MA production facility, with deliveries to commence immediately.

The systems are based on the company's rugged SeeSpot III® high performance thermal imager that allows operators to identify targets and view laser designators simultaneously. Used in both day and night battlefield environments and in degraded weather conditions, the ETS increases the accuracy of laser designators by allowing operators to view the laser spot within the target scene.

Field-proven and battle-tested in Afghanistan and Iraq, the SeeSpot III® is mature and production-ready. The company has delivered over 1100 similar units since 2001.

"We are pleased to see this successful imaging system continue to prove itself with the world's most demanding operators," said Earl Lewis, FLIR Systems' President and CEO. "This contract represents a continuation of our relationship with the Naval Surface Weapons Center in Crane, Indiana. The unique targeting technology offered in this system is an important feature that allows our customers greater accuracy and precision in their field operations."

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. FLIR Systems is headquartered in Portland, Oregon, with service and manufacturing facilities worldwide. Visit the company's web site at www.FLIR.com.

Forward-Looking Statements

The statements in this release, including the total value of the contract and the statements made by Earl 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: changes in demand for the Company's products, product mix, the ability of the Company to manufacture the product and the timing of deliveries under the order discussed above, the receipt of additional orders under the contract 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, 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.

Contact Information

  • Company contact:
    Tony Trunzo
    FLIR Systems, Inc.
    (503) 498-3547
    www.flir.com