PORTLAND, OR -- (MARKET WIRE) -- 01/05/11 --
FLIR Systems, Inc. (NASDAQ: FLIR) announced today that its ICx Technologies subsidiary has been awarded a contract from the U.S. Department of Homeland Security, Customs and Border Protection (CBP) valued at up to $101.9 million, for the procurement of Mobile Surveillance Capabilities systems. The five year, firm fixed price contract includes a $26 million funded base year with four option periods and calls for integrated mobile surveillance and detection systems made to operate day and night in rugged areas of the U.S. southern border. FLIR's HRC-X ultra long range thermal imaging camera will be included on the vehicle-mounted surveillance towers. The award builds on ICx's thirteen
year history of providing CBP with tactical systems.
It is expected that work under this contract will be performed primarily out of FLIR's facilities in Alpharetta, GA, and Wilsonville, OR. Deliveries are expected to begin in the second quarter of 2011.
"Helping protect the safety and security of the public and its borders is a key tenet of the FLIR product philosophy," said Earl R. Lewis, President and CEO of FLIR. "We are proud to have been chosen by CBP to provide high-value, next generation surveillance systems that will greatly ease the significant challenges faced by U.S. border agents."
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 imaging and thermography applications including airborne observation and broadcast, ground-based security and surveillance, condition monitoring, research and development, manufacturing process control, search and rescue, drug interdiction, navigation, transportation safety, border and maritime patrol, and environmental monitoring. Visit the Company's web site at www.FLIR.com.
The statements in this release by Earl R. Lewis, and the other statements in this release about the award 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 award
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 Company's continuing compliance with U.S. export control laws and regulations, the timely receipt of export licenses for international shipments, the continuing eligibility of the Company to act as a federal contractor, 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.
FLIR Systems, Inc.
Source: FLIR Systems, Inc.
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