FLIR Systems Awarded Two Long Term Contracts From U.S. Coast Guard
PORTLAND, OR, Feb 27, 2007 (MARKET WIRE via COMTEX News Network) — FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has been awarded two indefinite delivery – indefinite quantity contracts from the US Coast Guard with a combined value of up to $87.3 million.
The first contract, valued at up to $49.9 million over five years, is for the U.S. Coast Guard’s Shipboard Infrared Visual Sensor System (SIRVSS). The second contract, valued at up to $37.4 million over ten years, is for the Coast Guard’s Electro Optical Sensor System (ESS). The units delivered under the SIRVSS contract will be installed aboard existing Coast Guard cutters, with each system being fully integrated into the ship’s Command and Control system.
The ESS systems will be installed on HH-60 and HH-65 helicopters to enhance the Coast Guard’s airborne use of force, interdiction and search and rescue missions. Deliveries on SIRVSS have begun, and ESS deliveries will begin in the second quarter of 2007. Anticipated deliveries under these two contracts in 2007 total approximately $8 million.
Both of these contracts utilize a variant of FLIR’s SeaFLIR III(R), the latest generation of the successful SeaFLIR(R) line of gyro-stabilized multi-sensor products specifically designed for the maritime environment. The SeaFLIR III’s open architecture allows seamless integration on a variety of maritime platforms, fixed or rotary wing aircraft, ground vehicles and land installations.
The Company’s SeaFLIR(R) products are currently deployed for such diverse missions as search and rescue, interdiction or intelligence, surveillance and reconnaissance and targeting applications. In addition, all variants of the SeaFLIR III(R) are engineered, designed and qualified for operation in the harshest maritime conditions.
“FLIR continues to succeed in the maritime market because of the capability and performance of systems like the SeaFLIR III(R). This contract builds on our excellent relationship with the U.S. Coast Guard and demonstrates the unique capabilities and extreme ruggedness of our systems,” said Earl R. Lewis, President and CEO of FLIR Systems, Inc. “We are delighted the Coast Guard has again chosen FLIR to provide these systems for such critical missions,” he concluded.
