Flir Systems shares rise on $358.4 million U.S. army contract

(Reuters) - Shares of Flir Systems Inc (FLIR.O) rose almost 8 percent to hit a lifetime high on Thursday, a day after the thermal imaging and infra-red camera maker received a contract modification worth $358.4 million from the U.S. army.

The modification adds to an existing indefinite delivery, indefinite quantity contract from the U.S. Army Space and Missile Defense Command, in Huntsville, Alabama, Flir Systems said in a statement on Wednesday.

Under the contract, the company will deliver units of Star SAFIRE III stabilized multi-sensor systems to support ongoing force protection programs of the U.S. Armed Forces.

On Tuesday, the company said it received a Performance Based Logistics (PBL) support contract for up to $60.5 million from the U.S. Army Space and Missile Defense Command (USMC) to provide service, upgrades, and logistics support for certain U.S. army and USMC programs.

Shares of the Wilsonville, Oregon-based company were trading up $2.63 at $37.50 Thursday afternoon on Nasdaq.

(Reporting by Eric Yep in Bangalore; Editing by Pratish Narayanan)