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PORTLAND, Ore.--(BUSINESS WIRE)--July 15, 2004--FLIR Systems, Inc.
(Nasdaq:FLIR) announced today that it has received a series of orders
totaling $7.4M for delivery of infrared imaging cameras for use in
Northrop Grumman Corporation's (NYSE:NOC) Litening® AT Targeting
Pod. The targeting pods are being deployed on United States Air Force
B-52 aircraft and certain Air National Guard F-16s. Shipments under
these orders have begun and will continue into early 2005. This version of the Litening® infrared imaging camera was
developed in 2001, enabling Northrop Grumman to deploy the first
targeting pod with an advanced Third Generation infrared detector. The
Litening® pod is currently in operational status on six aircraft
within the US armed forces and its allies. "These orders illustrate the value of our 'Core by Indigo'
strategy of manufacturing dual-use components for consumption by FLIR
and others in both the commercial and military marketplaces,"
commented Earl R. Lewis, Chairman, President and CEO of FLIR Systems,
Inc. Litening® is a registered trade mark of Rafael Armament Division
in Haifa, Israel who is partnered with Northrop Grumman Corporation. 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 newsgathering 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 FLIR's Web site at www.FLIR.com. Forward-Looking Statements This release contains forward-looking statements, including the
Company's expectations for deliveries under the purchase contracts
announced herein. These 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 availability of funding and actual deliveries under the
contracts, the continuing ability to penetrate new market applications
with the Indigo infrared cameras and Imaging Division products
generally, the federal funding levels of the Defense Department , the
availability and timing of federal appropriated funds for procurement
of thermal imaging systems, the Company's continuing eligibility to
contract with the Federal Government, the Company's continued
compliance with US export control laws, additional competition, the
Company's ability to win larger delivery contracts, the impact of
competitive products and pricing, constraints on supplies of critical
components, excess or shortage of production capacity, actual
purchases under purchase agreements 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, 2003. 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.
CONTACT: FLIR Systems, Inc.
Anthony Trunzo, 503-684-3731
www.flir.com
or
Neil Berkman Associates (Investor Contact)
310-277-5162
info@BerkmanAssociates.com
SOURCE: FLIR Systems, Inc.
