FLIR Systems Announces Orders Totaling $7.4 Million from Northrop Grumman
Infrared Camera Cores to Be Used in Litening AT Targeting Pod
PORTLAND, Ore.–(BUSINESS WIRE)—FLIR Systems, Inc. (Nasdaq:FLIR) announced today that it has received a series of orders totaling $7.4M for delivery of infrared imaging cameras for use in Northrop Grumman Corporation’s (NYSE:NOC) Litening(R) AT Targeting Pod. The targeting pods are being deployed on United States Air Force B-52 aircraft and certain Air National Guard F-16s. Shipments under these orders have begun and will continue into early 2005.
This version of the Litening(R) infrared imaging camera was developed in 2001, enabling Northrop Grumman to deploy the first targeting pod with an advanced Third Generation infrared detector. The Litening(R) pod is currently in operational status on six aircraft within the US armed forces and its allies.
“These orders illustrate the value of our ‘Core by Indigo’ strategy of manufacturing dual-use components for consumption by FLIR and others in both the commercial and military marketplaces,” commented Earl R. Lewis, Chairman, President and CEO of FLIR Systems, Inc.
Litening(R) is a registered trade mark of Rafael Armament Division in Haifa, Israel who is partnered with Northrop Grumman Corporation.
The statements in this release regarding FLIR’s expectation of the value of the US Air Force contract and the time period within which these revenues will be generated are forward-looking statements. Such statements are based on current expectations, estimates and projections about FLIR’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 of FLIR to deliver units ordered in a timely manner and consistent with contract requirements, changes in demand for FLIR’s products, product mix, the timing of customer orders and deliveries, the impact of competitive products and pricing, FLIR’s continuing compliance with US export control laws and regulations, constraints on supplies of critical components, excess or shortage of production capacity, actual purchases under agreements, the continuing eligibility of FLIR to act as a federal contractor, the amount and availability of appropriated government procurement funds 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.
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.
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