Flir Systems 3Q profit climbs as expenses fall

Flir Systems 3rd-quarter profit rises on lower expenses and increased revenue

• On 10:16 am EDT, Wednesday October 21, 2009

PORTLAND, Ore. (AP) -- Flir Systems Inc. said Wednesday that its third-quarter profit rose 10 percent on lower expenses and improved sales at two divisions.

The maker of infrared imaging cameras earned $60 million, or 38 cents per share, compared with $54.8 million, or 35 cents per share, a year ago.

Revenue for the three months ended Sept. 30 edged up 3 percent to $285.6 million from $276.7 million on improved results from its government systems and commercial vision systems units.

Analysts predicted profit of 35 cents per share on revenue of $281.1 million, according to a Thomson Reuters poll. Analysts' estimates usually exclude one-time items.

Total operating expenses declined to $73.5 million from $78.6 million.

Flir also announced the purchase of OmniTech Partners Inc. for $42 million in cash to help boost its product offerings. OmniTech develops and makes image intensified and fused image intensified thermal imagers.

Shares of Flir Systems added rose 90 cents, or 3.1 percent, to $29.85 in morning trading.