Flir shares soar as 2Q profit grows 22 percent

Flir shares jump after earnings grow 22 percent in 2nd quarter; keeps prior outlook

Associated Press

PORTLAND, Ore. (AP) -- Shares of Flir Systems Inc. got a boost on Thursday after the company posted a 22 percent increase in its second-quarter net income, helped by growing demand for its imaging and surveillance systems from both government and commercial clients.

Flir earned $50.2 million, or 35 cents per share, in the April-June period. That's up from $41.1 million, or 27 cents per share, in the second quarter of 2012.

Revenue rose 15 percent, to $389.3 million from $338.3 million.

Analysts, on average, were expecting earnings of 36 cents per share on revenue of 365.3 million, according to a poll by FactSet.

Flir makes imaging and surveillance systems used for everything from border control to explosives detection.

The company kept a prior forecast for 2013, of earnings of $1.56 to $1.66 per share on revenue $1.5 billion to $1.6 billion. Analysts were expecting earnings of $1.63 per share on revenue of $1.5 billion.

Shares rose $2.80, or 9.6 percent, to $31.89 in afternoon trading. The stock earlier hit a 52-week high of $32.28.

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