FLIR Systems Announces Strategic Alliance With Leading Maker of Video Surveillance Cameras
FLIR and Pelco to Jointly Develop, Manufacture and Distribute Security Cameras
PORTLAND, OR, Oct 18, 2005 (MARKET WIRE via COMTEX News Network) — FLIR Systems, Inc. (NASDAQ: FLIR) announced today that it has entered into a strategic alliance with Pelco, the world’s largest video security equipment manufacturer. Under this agreement, FLIR and Pelco will combine their respective resources to design, manufacture and distribute a series of new thermal and visible light security surveillance systems throughout the world. FLIR and Pelco will each manufacture selected products exclusively for each other, and both companies will distribute these products through their extensive worldwide distribution networks. The products will be compatible with Pelco’s wide range of video control systems.
“We are delighted to team with Pelco, a recognized leader in the security industry, to jointly address the large market for integrated video surveillance. We believe the combination of FLIR and Pelco will offer commercial and government customers a compelling cost effective solution to their security needs,” commented Earl R. Lewis, President and CEO of FLIR Systems, Inc.
The statements in this release, including the expectation that the business combination discussed above will offer a compelling cost effective solution to commercial and government customers, 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 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: changes in demand for the Company’s products, product mix, the timing of customer orders and deliveries under the agreement discussed above, the impact of competitive products and pricing, the Company’s continuing compliance with US export control laws and regulations, the timely receipt of export licenses for international shipments, constraints on supplies of critical components, excess or shortage of production capacity, the ability of the Company to manufacture and ship products in the time period required, actual purchases under agreements, the continuing eligibility of the Company 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.
FLIR Systems, Inc.
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