Flir Systems: 1Q Earnings Snapshot
Flir Systems: 1Q Earnings Snapshot
WILSONVILLE, Ore. (AP) _ Flir Systems Inc. (FLIR) on Wednesday reported first-quarter profit of $61.7 million.
On a per-share basis, the Wilsonville, Oregon-based company said it had net income of 45 cents. Earnings, adjusted for one-time gains and costs, came to 53 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The imaging and surveillance systems company posted revenue of $444.7 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $438.9 million.
Flir Systems expects full-year earnings in the range of $2.30 to $2.36 per share, with revenue in the range of $1.92 billion to $1.95 billion.
Flir Systems shares have increased 16 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 17 percent. The stock has fallen almost 3 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLIR at https://www.zacks.com/ap/FLIR