21 Oct 09. FLIR Systems, Inc (NASDAQ: FLIR) announced today the acquisition of OmniTech Partners, Inc. for $42 million in cash. OmniTech, based in Freeport, PA, is a leader in the development and manufacturing of weapon-mounted image intensified (I2) sensors, and image-fused I2/infrared imaging systems. The acquisition provides a bridge for I2 users to the world of infrared and the future of multi-spectral night vision, allowing the merger of these two critical technologies to maximize the benefits of both. OmniTech’s night sights and other I2 products, which operate in the visible and near infrared bands, are complementary with FLIR’s existing line of mid wave and long wave infrared sighting sensors and systems. FLIR’s low cost, high performance infrared technology will augment OmniTech’s I2 technology and allow the creation of low cost, multi-spectral clip on solutions using OmniTech’s patented optical fusion technologies. With infrared, I2 users will be able to detect targets more quickly despite camouflage, smoke, dust and adverse weather, and follow up with the high resolution I2 imagery for target identification. Operating as a part of FLIR’s Government Systems Division, OmniTech, which will be known as FLIR Government Systems Pittsburgh, will target weapon sights, night vision goggles and other night vision sensors for individual Soldiers, force protection, ISR, and other I2 applications that will benefit from the addition of infrared vision. As the world’s leader in infrared detectors and cameras, FLIR’s high volume manufacturing capacity and low costs will be essential to the adoption of these combined products on a large scale. In addition to the acquisition of Salvador Imaging (now known as FLIR Advanced Imaging Systems), a maker of advanced CCD and EMCCD cameras, in June 2009, the acquisition of OmniTech further cements FLIR’s position as a full spectrum supplier of night vision sensors and systems. “With the acquisition of OmniTech, FLIR’s technology covers the full spectrum from visible through long wave infrared, and all major night vision technologies including not only infrared but EMCCD as well as I2,” said Earl R. Lewis, President and CEO of FLIR Systems, Inc. “We are impressed with OmniTech’s abilities and products, and look forward to sharing those capabilities with our customers. FLIR is well positioned to be the World’s leader in night vision, with the unique ability to integrate all these technologies together to provide complete solutions at the lowest cost” OmniTech is currently forecasted to reach $21.8 million in revenue by the end of 2009. The transaction is expected to be immaterial to FLIR’s earnings in 2009 and 2010. FLIR Systems Inc, CEO Earl Lewis is a candidate for BATTLESPACE Businessman of the Year in 210.
16 Oct 09. Safran (SAF.PA)forecast a challenging 2010 as it posted flat third-quarter revenue on Friday, pressured by underused business jets and lower-than-expected sales of spare parts. The company, which partners General Electric (GE.N) in the world’s largest engine maker for civil jetliners, CFM International, reiterated forecasts for 2009 revenue “on the same scale” as 2008 and an operating margin of about 6 percent. But it did not give a specific outlook for next year. “It is too early to make detailed predictions, but 2010 will be a challenging year and we intend to face the challenges,” Chief Executive Jean-Paul Herteman told reporters. Safran shares were down 5.2 percent to 12.07 euros at 1016 GMT. GE is due to publish third-quarter results later on Friday, with Wall Street expecting profit to fall over half to 20 cents per share, according to Thomson Reuters I/B/E/S, with revenue forecast to drop about 15 percent to $40bn. Safran third-quarter sales fell 0.2 percent to 2.38bn euros ($3.55bn), with core aerospace propulsion falling 1.5 percent. Analysts had predicted revenue closer to 2.5bn euros. Natixis Securities analyst Olivier Brochet said sales of spare parts of CFM