PORTLAND, OR, Aug 16, 2007 (MARKET WIRE via COMTEX News Network) -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has been awarded a $20 million order from the U.S. Navy for a variant of its SeaFLIR(R) III stabilized, lightweight multi-sensor systems. This order was made pursuant to a previously awarded five-year, $75 million indefinite delivery, indefinite quantity contract. The units delivered under this contract will support ongoing U.S. Navy programs. Work on the delivery order will begin immediately and be performed over the next year in FLIR's Boston, Massachusetts production facility. Including this order, FLIR will have delivered over 250 systems in the SeaFLIR(R) product line to the Navy community.
"This contract, a continuation of FLIR's relationship with the U.S. Navy, demonstrates the value of our systems for diverse, Naval small-craft applications. We are pleased the U.S. Navy has once again chosen FLIR products for this critical mission," said Earl R. Lewis, President and CEO of FLIR Systems, Inc.
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 ability to manufacture and deliver the systems referenced in this release, 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.
