FLIR Systems Announces $7.2 Million Order From Northrop Grumman
PORTLAND, Ore.–(BUSINESS WIRE)–March 30, 2004–FLIR Systems, Inc. (Nasdaq:FLIR) announced today it has received an order for its ThermoVision(R) Sentry(TM) infrared camera systems from Northrop Grumman Corporation (NYSE:NOC) valued at approximately $7.2 million. Most of the systems will be used for perimeter security around US airbases worldwide under the US Air Force Tactical Automated Security System (TASS) program, for which Northrop Grumman is the prime contractor. FLIR’s ThermoVision(R) Sentry(TM) is an uncooled, dual field of view infrared camera system with a built in high accuracy pan/tilt mechanism that is designed specifically for perimeter security and surveillance applications in critical environments. Deliveries will begin immediately.
“This order, which is a follow on to a similar sized order received in December of last year, is an important step in our continuing participation in the TASS program, and in our relationship with Northrop Grumman,” said Earl Lewis, FLIR’s Chairman and CEO. “We are particularly pleased that our ThermoVision Sentry product is deployed in missions that help provide for the security of US assets and personnel worldwide.”
About FLIR Systems
FLIR Systems designs, manufactures and markets infrared imaging systems worldwide for a variety of applications. FLIR’s imaging products are used in such diverse applications as public safety, defense, navigation, electronic newsgathering and search and rescue. Thermography products support such applications as condition monitoring, non-destructive testing, medical science, research and development, and manufacturing process control. For more information, please visit FLIR’s Web site at www.FLIR.com
This release contains forward-looking statements, including the Company’s expectations for deliveries under this purchase contract. 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 and actual deliveries under the contract, the continuing ability to penetrate new market applications with the Imaging Division products, the federal funding levels of the Defense Department generally, the availability and timing of federal appropriated funds for procurement of thermal imaging systems, the Company’s continuing eligibility to contract with the Federal Government, the Company’s continued compliance with US export control laws, 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, actual purchases under purchase agreements 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, 2003. 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.
For More Information:
FLIR Systems, Inc.
Visit the FLIR Systems web site.