FLIR Awarded Contracts Totaling $38 M From a Key International Customer

FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has been awarded new contracts by a key international military customer totaling $38 million for FLIR man-portable multispectral targeting systems and integrated mobile long-range multispectral imaging and command and control systems. The systems will be used to combat terrorism, secure strategic military assets, and protect borders against incursions and other threats.

"These contract awards further demonstrate the strategic benefits of FLIR's commercially developed, military qualified (CDMQ) model that allows us to innovate and deploy advanced, cost-effective products in support of global military and border control operations," said Andy Teich, President and CEO of FLIR. "These contracts also underscore FLIR's ability to rapidly address urgent and emerging needs for state of the art intelligence, surveillance, reconnaissance and targeting equipment to our global base of customers."

Work under these contracts will be performed out of multiple FLIR facilities and is expected to be completed by the second quarter of 2017.

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Source: FLIR Systems, Inc.
Date: Mar 21, 2016