Flir Systems: 3Q Earnings Snapshot
WILSONVILLE, Ore. (AP) _ Flir Systems Inc. (FLIR) on Friday reported third-quarter profit of $60.7 million.
The Wilsonville, Oregon-based company said it had profit of 46 cents per share. Earnings, adjusted for amortization costs and to extinguish debt, came to 64 cents per share.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The imaging and surveillance systems company posted revenue of $466.4 million in the period, falling short of Street forecasts. Five analysts surveyed by Zacks expected $471.4 million.
Flir Systems expects full-year earnings in the range of $2.30 to $2.35 per share, with revenue in the range of $1.88 billion to $1.9 billion.
Flir Systems shares have declined 34% since the beginning of the year, while the Standard & Poor’s 500 index has risen 2.5%. The stock has decreased 38% in the last 12 months.