FLIR Systems, Inc'

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FLIR Systems, Inc.
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Nature of Business

• Design and manufacture thermal imaging and
  infrared camera systems
• Sell to commercial, industrial and government
  markets
• Thermography cameras that measure
  temperature/moisture
• Used for commercial and industrial purposes such
  as building inspections.
• Imaging night vision systems
• Mainly government/military use.

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Letter from Chairman, President and CEO Earl R.
Lewis

• Sales increased by 55 to 483 million
• Net earnings up by 60 from 2003
• Building inspection camera line lead the way into
  new markets.
• New manufacturing plants in Sweden and Boston
• Purchased Indigo Systems Corp. (imaging company)
  and led to growth in this industry of 65
• Invested 64 million in R D.
• For 2005 - looking to lower production costs to
  reach cost sensitive markets

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Independent Auditor

• KPMG, LLP from Portland, Oregon
• Unqualified opinion

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