FLIR Systems Announces $11 Million in Orders From BAE Systems to Support Norwegian Army
PORTLAND, OR -- (Marketwire) -- 07/18/12 --
FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has received $11 million in orders from BAE Systems in Sweden for thermal imaging systems that will be installed on Norwegian Army CV90 combat vehicles. FLIR's ThermoSight LIRC sighting systems as well as SA90 and DV55 driver vision/situational awareness (DV/SA) thermal imaging systems will be integrated into BAE Systems CV9030 combat vehicles.
The FLIR ThermoSight LIRC and DV/SA products are field-proven thermal systems that feature advanced long-range thermal imaging performance, real-time image enhancement, and a best-in-class input reaction time. Deliveries under this order are expected to begin in 2014 and will add to the number of systems that are already deployed on the CV90 platform for various end users.
"This order demonstrates the value of our technology in driver vision and sighting enhancement," said Earl Lewis, President and CEO of FLIR. "We take great pride in being the leader in the development of thermal imaging solutions for emerging global applications and are pleased that BAE Systems has once again chosen 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 orders 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.
Source: FLIR Systems, Inc.
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