FLIR Systems (FLIR) Announces Contract From the U.S. Army Has Been Increased To $71.6 Million
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FLIR Systems, Inc. (NASDAQ: FLIR) announced that it has been awarded a $11.1 million modification to a Performance Based Logistics (PBL) support contract from the U.S. Army Space and Missile Defense Command in Huntsville, Alabama. This contract provides for service, upgrades, and logistics support for certain U.S. Army and USMC programs. The total value of the contract has been increased to $71.6 million. Including deliveries made so far this year, revenue under this modified contract is expected to be approximately $15 million in 2008.
"This contract modification, an extension of FLIR's strong relationships with the U.S. Army and the U.S. Marine Corps, demonstrates our expanding capability to provide Performance Based Logistics in support of our growing installed base," said Earl R. Lewis, President and CEO of FLIR. "We are pleased the U.S. Army has chosen FLIR for this critically important mission."
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