FLIR Systems Receives $6.2 Million Follow-on Order for Maritime Thermal Imaging Systems.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--Aug. 21, 2003 FLIR Systems | company_name = FLIR Systems | company_type = Public (NASDAQ: FLIR) | foundation = 1978 | location = Wilsonville, Oregon, United States | key_people = Earl R. Lewis }} FLIR Systems , Inc. (Nasdaq:FLIR FLIR Forward-Looking Infrared (Radar) FLIR Forward Looking Infrared Radiometer FLIR Forward Looking Infrared Radar FLIR Forward Looking Infra Red ) announced today that it has received a $6.2 million follow-on order from the U.S. Navy's Naval Surface Warfare That portion of maritime warfare in which operations are conducted to destroy or neutralize enemy naval surface forces and merchant vessels. Also called SUW. Command for its MARFLIR MARFLIR Maritime Forward Looking Infrared maritime thermal imaging system. Deliveries will begin in the fourth quarter of 2003. This is the latest follow-on order under a contract originally awarded in August, 1999. To date, FLIR has delivered over 100 MARFLIR ship-borne thermal imaging systems on U.S. Navy and U.S. Coast Guard patrol craft and other vessels. "We are pleased to have received this second follow-on order from the U.S. Navy, which is an important and influential customer. We are committed to expanding FLIR's position in the large and growing global market for maritime thermal imaging systems by providing the most advanced technology and complete customer service," said Earl Lewis Earl Lewis is Provost and Executive Vice President for Academic Affairs and the Asa Griggs Candler Professor of History and African American Studies at Emory University. He is the university's first African American provost and the highest ranking African American administrator in , President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of FLIR Systems. The MARFLIR is a small, highly stabilized and sealed 9" gimbal containing a high performance infrared imager designed specifically for the maritime environment. The system can be mounted on a vessel's mast or wheelhouse wheel·house n. See pilothouse. wheelhouse Noun an enclosed structure on the bridge of a ship from which it is steered Noun 1. and provides full de-icing capabilities, features a 10x continuous zoom lens, laser range finder and an auto tracker. 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 news gathering and search and rescue. Thermography thermography (thûr'mŏg`rəfē), contact photocopying process that produces a direct positive image and in which infrared rays are used to expose the copy paper. products support such applications as condition monitoring, non-destructive testing, medical science, research and development, and manufacturing process control. For more information, please visit their Web site at www.FLIR.com. Forward Looking Statements This release contains statements, including statements regarding the timing of deliveries of FLIR's MarFLIR(TM) thermal imaging system, that are forward-looking statements that 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: an inability of the Company to produce or deliver systems under this follow-on order, a lack of sufficient funds required under the contract for the procurement of such systems, the impact of competitive products and pricing, constraints on supplies of critical components, excess or shortage of production capacity, actual purchases under agreements, the amount and availability of appropriated government procurement funds generally 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 Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2002. In addition, such statements could be affected by general industry and market conditions and growth rates Growth Rates The compounded annualized rate of growth of a company's revenues, earnings, dividends, or other figures. Notes: Remember, historically high growth rates don't always mean a high rate of growth looking into the future. , 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. |
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