Earnings Review and Free Research Report: FLIR Systems’ Revenue Jumped 15%’; Adjusted EPS Advanced 8.3%

Research Desk Line-up: Coherent Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 17, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on FLIR Systems, Inc. (NASDAQ: FLIR), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=FLIR, following the Company's reporting of its third quarter fiscal 2017 operating results on October 25, 2017. The imaging and surveillance systems Company outperformed top- and bottom-line expectations and also re-affirmed its guidance for FY17. Bookings in Q3 2017 drove FLIR Systems' backlog to its highest level in the Company's history. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Scientific & Technical Instruments industry. Pro-TD has currently selected Coherent, Inc. (NASDAQ: COHR) for due-diligence and potential coverage as the Company announced on November 07, 2017, its financial results for Q4 FY17 and FY17 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Coherent when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on FLIR; also brushing on COHR. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

FLIR Systems' revenue was $464.71 million in Q3 2017, up 15% over revenue of $405.23 million in Q3 2016. The Company's revenue numbers surpassed analysts' estimates of $446.3 million.

During Q3 2017, FLIR Systems' GAAP operating income grew 8% to $87.09 million compared to $80.85 million in Q3 2016. The Company's adjusted operating income for the reported quarter totaled $101.1 million, 14% higher than adjusted operating income of $89.0 million in the prior year's same quarter.

For Q3 2017, FLIR Systems' GAAP net earnings were $63.53 million, or $0.46 per diluted share, compared to GAAP net earnings of $58.63 million, or $0.43 per diluted share, in Q3 2016. The Company's adjusted net earnings in the reported quarter were $72.7 million, or $0.52 per diluted share, which was 8% higher than adjusted net earnings per diluted share of $0.48 in the year-earlier same quarter, where a lower tax rate relative to the current year added $0.02 of income per share. FLIR Systems' earnings beat Wall Street's estimates of $0.48 per share.

Segment Results

During Q3 2017, FLIR Systems' revenue from the Surveillance segment totaled $146.81 million, reflecting an increase of 8% compared to revenue of $136.40 million in Q3 2016. The Company's Instruments segment contributed $91.4 million of revenue during the reported quarter, up 11% over the prior year's comparable quarter revenue of $82.67 million. For Q3 2017, FLIR Systems' Security segment recorded revenue of $65.66 million, up 16% from revenue of $56.43 million in Q3 2016.

In Q3 2017, the Company's OEM & Emerging Markets segment had $87.2 million of revenue, reflecting an increase of 39% on a y-o-y basis, driven by the addition of the Integrated Imaging Solutions line of business from its Q4 2016 acquisition of Point Grey Research. FLIR Systems' revenue from the Maritime segment totaled $42.26 million, up 4% compared to revenue of $40.59 million in the year-earlier same quarter. The Company's Detection segment contributed $31.4 million of revenue, representing an increase of 19% on a y-o-y basis, driven by timing of DR-SKO program shipments.

FLIR Systems' backlog of firm orders for delivery within the next twelve months was approximately $709 million as of September 30, 2017, an increase of $64 million, or 10%, during the reported quarter. The Company's was at its highest level in FLIR system's history.

Dividend Declaration

FLIR's Board of Directors declared a quarterly cash dividend of $0.15 per share on the Company's common stock, payable December 08, 2017, to shareholders of record as of close of business on November 24, 2017.

Revenue and Earnings Outlook

For FY17, FLIR Systems is forecasting revenue to be in the range of $1.775 billion to $1.825 billion and adjusted net earnings per diluted share to now be in the band of $1.83 to $1.88 per diluted share.

Stock Performance

On Thursday, November 16, 2017, the stock closed the trading session at $47.48, slightly climbing 0.59% from its previous closing price of $47.20. A total volume of 998.60 thousand shares have exchanged hands. FLIR Systems' stock price skyrocketed 25.51% in the last three months, 28.08% in the past six months, and 34.73% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 31.20%. The stock is trading at a PE ratio of 30.05 and has a dividend yield of 1.26%. At Thursday's closing price, the stock's net capitalization stands at $6.52 billion.

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