PORTLAND, OR, Oct 20, 2008 (MARKET WIRE via COMTEX News Network) -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has received a $28.9 million order from Sikorsky Aircraft Corporation, a subsidiary of United Technologies Corporation (NYSE: UTX), for its family of Star SAFIRE(R) stabilized, multi-sensor systems. The units delivered under this order will be installed on Army MEDEVAC Black Hawk helicopters.
This order represents a continuation of a program to install Star SAFIRE(R) systems on the MEDEVAC Black Hawk helicopters, many of which are currently serving in Iraq and Afghanistan. These systems allow the aircraft to fly lifesaving missions for American and Allied troops, as well as for civilians, in all weather, day or night. Including this order, FLIR will have delivered over 170 systems in the Star SAFIRE(R) product line for use on the Army's Search and Rescue and MEDEVAC Black Hawk helicopters.
Work will be performed at FLIR's facilities in Wilsonville, Oregon. Deliveries on this order are expected to begin in 2010. Including previous orders, FLIR expects to deliver $52.7 million of systems through 2011 to this customer.
"This contract, a continuation of FLIR's relationship with Sikorsky and the U.S. Army, demonstrates the value of our systems to support the diverse assignments of the Black Hawk helicopter. We are pleased Sikorsky has chosen FLIR products for this critical, life-saving mission," said Earl R. Lewis, President and CEO of FLIR Systems, Inc.
The statements in this release by Earl R. Lewis, and the other statements in this release about the 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 systems referenced in this release, changes in demand for the Company's products, product mix, the timing of deliveries under the orders 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.
Company contact: Tony Trunzo FLIR Systems, Inc. (503) 498-3547 www.flir.com
SOURCE: FLIR Systems, Inc.
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