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Mon, January 5, 2009
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FLIR Systems, Inc.: FLIR Systems Announces Exercise of Option Under $13.5 Million Contract by Royal Australian Air Force


Published on 2009-01-05 04:53:25, Last Modified on 2009-01-05 04:54:24 - Market Wire
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PORTLAND, OR--(Marketwire - January 5, 2009) - FLIR Systems, Inc. (NASDAQ: [ FLIR ]) announced today that it has received notification from the Royal Australian Air Force (RAAF) of its intent to exercise a contract modification option under a prior $13.5 million contract. Under the terms of the contract modification, FLIR will supply Star SAFIRE® HD imaging systems to be fitted on AP-3C maritime patrol aircraft for surveillance and search and rescue missions. The original contract was signed during the third quarter.

The Star SAFIRE® HD is the only electro-optic infrared system in its class to provide full digital high-definition video from all its imaging sensors -- with output video that meets U.S. Department of Defense and NATO specifications for HD acquisition. The Star SAFIRE® HDs will replace existing Star SAFIRE® III systems to enable the RAAF's transition to HD technology for their operational needs.

Work will be performed in FLIR's facilities in Wilsonville, Oregon. Deliveries are expected to begin in the 1st quarter of 2009 and be completed within 12 months.

"This contract award represents a milestone in FLIR Systems' continuing relationship with the Royal Australian Air Force," said Earl Lewis, CEO of FLIR Systems, Inc. "We are pleased that the RAAF has chosen to procure the Star SAFIRE® HD for its AP-3C aircraft imager needs. This system will provide the Royal Australian Air Force with unparalleled vision in its long-range surveillance and maritime patrol missions."

Forward-Looking Statements

The statements in this release by Earl R. Lewis, and the other statements in this release about the contract and modification 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 contract and modification 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, the receipt of any required export licenses 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 ].