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FLIR Systems Inc (FLIR - Analyst Report) recently announced that it has received a $25 million award for its StarSAFIRE 380 HLD gimbaled multi-spectrum imaging and laser designation system featuring its MERLIN Moving Target Indicator (MTI) system. The contract was awarded by one of its customers in the Middle-East region.

The scope of the contract requires FLIR Systems to develop state-of-the-art high-definition imaging and laser solutions using its CDMQ (commercially developed, military qualified) model. The project, expected to be complete by 2015, will be undertaken in FLIR's Wilsonville facility in Oregon.

FLIR Systems’ Merlin MTI, when coupled with StarSAFIRE 380 - the recent successor of gyro-stabilized multi-spectral sensor systems StarSAFIRE, enables a speedy search and engagement of targets by system operators. The integrated system also includes an advanced diode pumped laser, standardized by NATO and has high duty cycles.

The company expects this solution to significantly improve efficiency of critical missions as it is a combination of two-cutting edge technologies that will lead to advanced automation along with reduced operator workload.

FLIRSystems was incorporated in 1978. It is a leader in design, manufacture and marketing of thermal imaging systems. Its products are used in a wide variety of applications in commercial, industrial and government markets both internationally as well as domestically.

It offers a variety of system configurations to suit specific customer requirements. The company’s business is organized into three divisions: Government Systems, Commercial Vision Systems and Thermography Products.

FLIR Systems currently carries a Zacks Rank #4 (Sell). However, investors keen on the industry may consider stocks like Raytheon Co. (RTN - Analyst Report), Hexcel Corp. (HXL - Snapshot Report) and Sharps Compliance Corp. (SMED - Snapshot Report). While Raytheon carries a Zacks Rank #1 (Strong Buy), Hexcel and Sharps Compliance both have a Zacks Rank # 2 (Buy).

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