FLIR Systems Awarded $25 Million Contract From U.S. Ally in Middle East Region

Marketwired

WILSONVILLE, OR--(Marketwired - Nov 20, 2013) - FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has been awarded a contract by a Middle East customer valued at $25 million for FLIR's® StarSAFIRE® 380 HLD gimbaled multi-spectrum imaging and laser designation system that features FLIR's MERLIN™ Moving Target Indicator (MTI) system. The StarSAFIRE 380 HLD system is the latest variant of the StarSAFIRE Series of gyro-stabilized multi-spectral sensor systems that have a proven track record with this customer for over 15 years. The addition of the MERLIN MTI system to the StarSAFIRE 380 HLD allows for automatic detection and tracking of multiple moving targets, thus enabling the system operator to rapidly search areas of interest and engage targets. The system also includes a state-of-the-art, high duty cycle, diode pumped laser that is compatible with NATO standards.

"This contract award highlights FLIR's ability to develop advanced high-definition imaging and laser solutions by leveraging our distinctive commercially developed, military qualified (CDMQ®) model. This model enables us to meet evolving market needs for higher performance while providing advanced automation for reduced operator workload and increased mission effectiveness," said Andy Teich, President and CEO of FLIR. "MTI is the latest video analytic enhancement FLIR has added to its product portfolio and it represents a game-changing technology that significantly improves the effectiveness of tactical missions."

Work under this award is expected to be performed out of FLIR's facility in Wilsonville, OR, and is expected to be completed by 2015.

About FLIR Systems

FLIR Systems, Inc. is a world leader in the design, manufacture, and marketing of sensor systems that enhance perception and awareness. FLIR's advanced thermal imaging and threat detection systems are used for a wide variety of imaging, thermography, and security applications, including airborne and ground-based surveillance, condition monitoring, research and development, manufacturing process control, search and rescue, drug interdiction, navigation, transportation safety, border and maritime patrol, environmental monitoring, and chemical, biological, radiological, nuclear, and explosives (CBRNE) detection. Visit FLIR's web site at www.FLIR.com.

Forward-Looking Statements

The statements in this release by Andy Teich and the other statements in this release about the contract 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 FLIR'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 FLIR's products, product mix, the timing of deliveries under the contract discussed above, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, the ability of FLIR to manufacture and ship products in the time period required, FLIR's continuing compliance with U.S. export control laws and regulations, and other risks discussed from time to time in FLIR'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 FLIR 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.

Contact:
Company
Shane Harrison
+1 503.498.3547
www.flir.com
View Comments (0)