The HC-130 FLIR Integration Program is a multi-million dollar program for the procurement and installation of eight (8) Star SAFIRE II FLIRs over the next two years. The contract also provides for future delivery of up to 37 additional Star SAFIRE II systems through 2006, depending on future funding availability, for the Combat Air Force's entire fleet of HC-130 search and rescue aircraft. If fully funded and exercised, this future delivery option is valued at approximately $16.0 million. Air Combat Command, Air Education & Training Command (both active duty) and Air Force Reserve Command (AFRC) operate the HC-130 aircraft in addition to the Air National Guard. Deliveries are expected to begin in 2003.
"The selection of the Star SAFIRE II for the HC-130 FLIR program further underscores FLIR Systems' continued success in winning major US Government contracts. We are proud to have been selected by Modern Technologies Corporation and the Warner Robbins Air Logistics Center to participate in this critical program to help upgrade the Air National Guard's search and rescue mission capability," said Earl Lewis, President and CEO of FLIR Systems.
About FLIR Systems
FLIR Systems designs, manufactures and markets infrared imaging systems worldwide for a variety of applications. FLIR's imaging products are used in such diverse applications as public safety, defense, navigation, electronic news gathering and search and rescue. Thermography products support such applications as condition monitoring, non-destructive testing, medical science, research and development, and manufacturing process control. For more information, please visit their Web site at www.flir.com.
This release contains statements, including statements regarding FLIR's delivery of up to 37 thermal imaging systems through 2006, that are forward-looking statements within the meaning of the 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: a lack of sufficient funds required under the contract for the procurement of such systems, changes in the program generally, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, actual purchases under agreements, the amount and availability of appropriated government procurement funds generally and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports, including the Company's Annual Report on Form 10-K for the year ended December 31, 2001. 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.
FLIR Systems, Inc.
Tom Milligan or Dean Hutton, 503/684-3731
Neil Berkman Associates
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