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PORTLAND, OR, Feb 27, 2007 (MARKET WIRE via COMTEX News Network) -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has been
awarded two indefinite delivery - indefinite quantity contracts from
the US Coast Guard with a combined value of up to $87.3 million. The
first contract, valued at up to $49.9 million over five years, is for
the U.S. Coast Guard's Shipboard Infrared Visual Sensor System
(SIRVSS). The second contract, valued at up to $37.4 million over
ten years, is for the Coast Guard's Electro Optical Sensor System
(ESS). The units delivered under the SIRVSS contract will be installed
aboard existing Coast Guard cutters, with each system being fully
integrated into the ship's Command and Control system. The ESS
systems will be installed on HH-60 and HH-65 helicopters to enhance
the Coast Guard's airborne use of force, interdiction and search and
rescue missions. Deliveries on SIRVSS have begun, and ESS deliveries
will begin in the second quarter of 2007. Anticipated deliveries
under these two contracts in 2007 total approximately $8 million.
Both of these contracts utilize a variant of FLIR's SeaFLIR III®,
the latest generation of the successful SeaFLIR® line of
gyro-stabilized multi-sensor products specifically designed for the
maritime environment. The SeaFLIR III's open architecture allows
seamless integration on a variety of maritime platforms, fixed or
rotary wing aircraft, ground vehicles and land installations. The
Company's SeaFLIR® products are currently deployed for such diverse
missions as search and rescue, interdiction or intelligence,
surveillance and reconnaissance and targeting applications. In
addition, all variants of the SeaFLIR III® are engineered, designed
and qualified for operation in the harshest maritime conditions.
"FLIR continues to succeed in the maritime market because of the
capability and performance of systems like the SeaFLIR III®. This
contract builds on our excellent relationship with the U.S. Coast
Guard and demonstrates the unique capabilities and extreme ruggedness
of our systems," said Earl R. Lewis, President and CEO of FLIR
Systems, Inc. "We are delighted the Coast Guard has again chosen FLIR
to provide these systems for such critical missions," he concluded.
Forward-Looking Statements
The statements in this release, including the statements of Earl R.
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: the
receipt of delivery orders under these contracts, the ability to
manufacture and deliver the systems referenced in this release, the
availability of funding under these IDIQ contracts, changes in demand
for the Company's products, product mix, the timing of customer
orders and deliveries under the agreement 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, 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.
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: SOURCE: FLIR Systems, Inc.
http://www.flir.com
Tony Trunzo
FLIR Systems, Inc.
(503) 498-3547
www.flir.com
