FLIR Systems Awarded Contract for Canadian Maritime Helicopter ProjectPORTLAND, OR, Jun 14, 2005 (MARKET WIRE via COMTEX) -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has received a competitively awarded subcontract from General Dynamics Canada of Ottawa, Ontario, for delivery of the latest generation Star SAFIRE(R) airborne multi-sensor imaging systems with multi-year in-service support. The systems will be used for the Canadian Department of National Defence Maritime Helicopter Project. The total subcontract value, including potential option awards, is in excess of $20 million (USD). Deliveries will commence within nine months of contract award and continue until 2009.
General Dynamics Canada has the responsibility, as Integrated Mission Equipment Manager, to integrate the multi-sensor systems into Sikorsky H-92 helicopters (designated as the CH-148 Cyclone by the Canadian Defence Forces). The systems will support maritime missions that include surface and subsurface surveillance, personnel recovery (search and rescue), and drug interdiction. The systems selected offer forward growth capabilities; a variety of other payloads can be easily installed as the diversity of missions expands for the H-92 platform.
Global Military and Government Helicopter Market Forecast to 2023
"We are pleased to be selected by General Dynamics Canada for one of the largest and most prestigious projects being developed for the Canadian DND," said Earl R. Lewis, President and CEO of FLIR Systems. "The selection of our industry leading Star SAFIRE(R) multi-sensor airborne system is further confirmation of FLIR's ability to provide rugged, upgradeable, next-generation airborne imaging systems that are supported worldwide."
This release contains forward-looking statements, including the Company's expectations for, and timing of, deliveries of its Star SAFIRE(R) systems under the contract described above. These 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 availability of funding under the contract described above, including possible option awards, the continuing ability to penetrate new market applications, the Company's continued compliance with US export control laws, the Company's continuing eligibility to act as a government contractor, additional competition, the Company's ability to win larger delivery contracts, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity and other risks discussed from time to time in the Company's Securities and Exchange Commission filings and reports, including the Company's Annual Report on Form 10-K for the year ended December 31, 2004. 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.
FLIR Systems, Inc.
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