PORTLAND, OR -- (Marketwire) -- 05/22/12 --
FLIR Systems, Inc.(NASDAQ: FLIR) announced today that it has been awarded an indefinite delivery, indefinite quantity contract from the U.S. Army to support the MEDEVAC program. The contract is valued at $38 million and is for spare components for Star SAFIRE® II stabilized multi-sensor systems that are installed on the Army's fielded MEDEVAC Blackhawk helicopters. An initial delivery order of $1.7 million was received.
Work under this contract is expected to be performed out of FLIR's facility in Wilsonville, OR, with deliveries expected to be completed within five years.
"The Army's MEDEVAC program has saved countless lives and we are proud to continue as a key element of its mission," said Earl Lewis, President and CEO of FLIR.
About FLIR Systems
FLIR Systems, Inc. is a world leader in the design, manufacture, and marketing of sensor systems that enhance perception and awareness. The Company'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. Visit the Company's web site at www.FLIR.com.
The statements in this release by Earl Lewis and the other statements in this release about the contract and order 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 components referenced in this release, changes in demand for the Company's products, product mix, the timing of
customer orders and deliveries under the contract 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.
Source: FLIR Systems, Inc.
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