ICx Technologies™ Wins $2.5 Million Contract for identiFINDER™ Radiation Detectors for the 2008 Beijing Olympics
WASHINGTON (July 15, 2008) - ICx Technologies (NASDAQ: ICXT), a developer of advanced sensor technologies for homeland security, force protection and commercial applications, announced today that it has won $2.5 million in contracts to supply identiFINDERsTM to the Government of China for use at the 2008 Olympics in Beijing, which begin on Aug. 8.
IdentiFINDERs are handheld, radioisotope identification devices (RIID). Every identiFINDER is able to rapidly locate, accurately measure and precisely identify sources or contaminations from gamma and neutron radiation. The units are able to differentiate between dangerous radioactive materials, medical and naturally occurring radioisotopes, such as bananas.
"We are proud to have our market-leading spectroscopic radiation detectors again being used at such a critical event. ICx also supported the 2004 Olympics through the IAEA and the Pacific Northwest National Lab, and we provided security at the 2006 FIFA World Cup," said Juergen Stein, President and CEO, ICx Radiation. "In addition to the identiFINDERs, we are also delivering a radiation-measurement laboratory truck to China for use at the 2008 Olympics. Our presence at such high-profile events is further testimony to our market leadership," he added.
Detailed information on the security steps that have been taken cannot be disclosed, although for past events radiation detection equipment was installed at borders and other entry points into the host country. In Greece, hand-held radiation monitors were distributed to hundreds of security personnel and customs officials. This type of equipment is being deployed to detect radioactive materials that might be used as a weapon by terrorists in a radiological dispersal device, a so-called "dirty bomb".
About FLIR Systems
FLIR Systems, Inc. is a world leader in the design, manufacture, and marketing of sensor systems that enhance perception and awareness. The Company’s advanced thermal imaging and threat detection systems are used for a wide variety of imaging, thermography, and security applications, including airborne and ground-based surveillance, condition monitoring, research and development, manufacturing process control, search and rescue, drug interdiction, navigation, transportation safety, border and maritime patrol, environmental monitoring, and chemical, biological, radiological, nuclear, and explosives (CBRNE) detection. Visit the Company's web site at www.FLIR.com.
The statements in this release by Earl R. Lewis, and the other statements in this release about the award 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 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: the ability to manufacture and deliver the systems referenced in this release, changes in demand for the Company's products, product mix, the timing of deliveries under the award discussed above, the impact of competitive products and pricing, 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 Company's continuing compliance with U.S. export control laws and regulations, the timely receipt of export licenses for international shipments, the continuing eligibility of the Company to act as a federal contractor, 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, or for changes made to this document by wire services or Internet service providers.
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Media Contacts
Angel Bennett
FLIR, Systems, Inc.
2800 Crystal Drive, Suite 330
Arlington, VA 22202
angel.bennett@flir.com
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