PORTLAND, OR, Aug 18, 2008 (MARKET WIRE via COMTEX News Network) -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has received a $14.7 million fixed-price follow-on contract from NSWC, Crane Division for AN/KAX-1A Forward-Looking Infrared systems. The stabilized, lightweight, multi-sensor systems delivered under this contract will support the Long Range Ground Mobility Visual Augmentation Systems (LR-GMVAS) Program and provide ground vehicles with an all-weather, day/night, high-resolution, stabilized, thermal imaging capability.
Work will be performed at FLIR's facilities in North Billerica, MA and deliveries are expected to be completed within 12 months.
"FLIR is committed to providing our military customers with outstanding infrared systems in support of critical missions. We are pleased to be working with NSWC Crane to supply these vehicle-based systems to our nation's ground forces," 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 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.
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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