MAY 15--FLIR Systems Inc. (Portland, OR; www.flir.com) has received a contract worth about $7.4 million to deliver thermal imaging systems for use in the Swedish Defense Forces' CV90 combat vehicle. The order was received from prime contractor Bofors Defense AB, which is responsible for integrating the thermal imager into the CV90 sighting system. Deliveries are set to begin in late 2004 and be completed in 2005.
FLIR officials say the order signifies the company's entry into the large military-vehicle sighting-system business and bolsters its existing infrared business with longer-term military program contracts. The company had 2002 revenues of $261.1 million and expects 2003 revenues to total between $290 million and $300 million.