FLIR Systems Awarded U.S. Navy Contract Valued at up to $137 Million to Support Rotary Aircraft Initiatives WILSONVILLE, OR -- (Marketwired) -- 08/29/13 -- FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has been awarded an indefinite delivery, indefinite quantity contract from the U.S. Naval Surface Warfare Center, Crane Division, to support Naval Air Systems Command's UH-1 program and the Vertical Takeoff Unmanned Aerial Vehicle program. The contract is valued at $136.6 million and is for FLIR's commercially developed, military qualified BRITE Star(R) II gimbaled electro-optical/infrared imaging systems, BRITE Star(R) I upgrades, and related spares and services. These advanced imaging systems will provide intelligence, surveillance, reconnaissance, detection, identification, and targeting capability in day or night operations for both manned and unmanned platforms. An initial delivery order of $4.2 million was received. Work under this award is expected to be performed out of FLIR's facility in Wilsonville, OR, and is expected to be completed by August 2018. "This contract award was the result of our team's continued effort to bring highly advanced commercially developed solutions to government markets," said Andy Teich, President and CEO of FLIR. "Our innovative technology, high reliability, timely delivery, low total cost of ownership, and global customer support drive our success in these markets. We are proud to have been selected to provide the U.S. Navy with these highly tactical solutions." About FLIR Systems FLIR Systems, Inc. is a world leader in the design, manufacture, and marketing of sensor systems that enhance perception and awareness. The Company's advanced thermal imaging and threat detection systems are used for a wide variety of imaging, thermography, and security applications, including airborne and ground-based surveillance, condition monitoring, research and development, manufacturing process control, search and rescue, drug interdiction, navigation, transportation safety, border and maritime patrol, environmental monitoring, and chemical, biological, radiological, nuclear, and explosives (CBRNE) detection. Visit the Company's web site at www.FLIR.com. Forward-Looking Statements The statements in this release by Andy Teich and the other statements in this release about the contract and the order described above are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. 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 to manufacture and deliver the systems referenced in this release, changes in demand for FLIR's products, product mix, the timing of deliveries under the order discussed above, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, the ability of FLIR to manufacture and ship products in the time period required, FLIR's continuing compliance with U.S. export control laws and regulations, and other risks discussed from time to time in FLIR'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 FLIR does not undertake any obligation to update any forward-looking statement to reflect events or circumstances after the date of this release, or for changes made to this document by wire services or Internet service providers. Company Contact: Shane Harrison +1 503.498.3547 www.flir.com
FLIR Systems Awarded U.S. Navy Contract Valued at up to $137 Million to Support Rotary Aircraft Initiatives
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