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Thu, January 15, 2009

FLIR Systems, Inc.: FLIR Systems Announces Teaming Agreement and $12.6 Million Order From Trijicon, Inc.


Published on 2009-01-15 13:29:52, Last Modified on 2009-01-15 13:30:57 - Market Wire
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PORTLAND, OR--(Marketwire - January 15, 2009) - FLIR Systems, Inc. (NASDAQ: [ FLIR ]) announced today that it has signed a teaming agreement and received a $12.6 million order from Trijicon, Inc. for a new integrated clip-on thermal weapon sight. The Advanced Thermal Weapon Sight™ (ATWS) was developed by FLIR in a collaboration leveraging Trijicon's expertise in weapon sights, and FLIR's expertise in infrared imaging systems and sighting sensors. The ATWS is specifically designed to integrate with Trijicon's popular ACOG™ (Advanced Combat Optical Gunsight), which is used by military and law enforcement units around the world. Designed for use with the M16 family, the ACOG has been chosen by the U.S. Special Operations Command (USSOCOM) as standard issue for all Special Operations Forces.

The ATWS utilizes FLIR's 640x480 uncooled vanadium oxide infrared microbolometers, and was commercially developed to military specifications. The ATWS sight will be manufactured by FLIR at its Portland, Oregon facility and will be marketed and distributed by Trijicon world-wide.

"We are pleased to enter into this important relationship with Trijicon, which capitalizes on the strengths of both companies to offer a world class sighting solution for military and paramilitary customers," said Earl R. Lewis, President and CEO of FLIR Systems, Inc.

Forward-Looking Statements

The statements in this release by Earl R. Lewis, and the other statements in this release about the teaming agreement and order 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 order 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, 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 ].

About Trijicon

Trijicon® is the world leader in self-luminous Brilliant Aiming Solutions™. Located in Wixom, MI, Trijicon has been providing day scopes for military and civilian uses for over 28 years. Trijicon's most popular product, the ACOG, is an internally-adjustable, compact telescopic sight with tritium illuminated reticle patterns for use in low light or at night. Bindon Aiming Concept (BAC) models feature bright daytime reticles using fiber optics which collect ambient light. The ACOG combines traditional, precise distance marksmanship with close-in aiming speed. Visit the Company's web site at [ www.trijicon.com ].

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