FLIR Systems, Inc. (NASDAQ: FLIR) announced today it has received an award from the United States (U.S.) Department of Defense (DOD) Joint Program Executive Office for Chemical, Biological, Radiological and Nuclear Defense (JPEO-CBRND) in support of the Nuclear Biological Chemical Reconnaissance Vehicle Sensor Suite Upgrade (NBCRV SSU) program for the U.S. Army. The Other Transaction Authority Agreement (OTA) is valued at $48.1 million, with execution extending through mid-2022.
FLIR will be the lead integrator in the modernization of the U.S. Armys NBCRV system. Under the agreement, FLIR will develop a platform agnostic modular mission payload, which integrates multiple chemical, biological and radiological sensors into a flexible command and control (C2) system. This C2 system will allow for data integration from the various sensors that will enable automation of certain tasks, reducing warfighter burden. The C2 system and the automation will allow for collaboration between manned Stryker vehicles, unmanned ground vehicles (UGVs), and sensor integrated drone platforms.
We are proud to be chosen by the U.S. Army as the lead developer and integrator for this key ground combat capability, said Jim Cannon, President and CEO of FLIR. This contract represents a significant example of our evolution from sensors to intelligent sensing to solutions that save lives and livelihoods. We will provide a wide selection of capabilities in this manned and unmanned platform application to help customers achieve successful mission outcomes.
Work under the program has begun and is being performed at FLIR facilities in Stillwater, Oklahoma and Elkridge, Maryland. For more information about FLIRs chemical, biological, radiological, nuclear, and explosive detection equipment, visit www.flir.com/threatdetection.
About FLIR Systems, Inc.
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Founded in 1978, FLIR Systems is a world-leading industrial technology company focused on intelligent sensing solutions for defense, industrial, and commercial applications. FLIR Systems vision is to be The Worlds Sixth Sense, creating technologies to help professionals make more informed decisions that save lives and livelihoods. For more information, please visit www.flir.com and follow @flir.
Forward Looking Statements
The statements in this release by Jim Cannon and the other statements in this release about the contract and 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 pricing of FLIR’s products, changing demand for FLIR’s products, product mix, 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 a timely manner, 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.