U.S. Markets close in 4 hrs 5 mins

Free Research Report as FLIR’s Quarterly Revenue Grew 4%, Adjusted EPS Advanced 12%

Stock Monitor: Luna Innovations Post Earnings Reporting

LONDON, UK / ACCESSWIRE / March 23, 2018 / Active-Investors.com has just released a free earnings report on FLIR Systems, Inc. (NASDAQ: FLIR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=FLIR. FLIR Systems reported its fourth quarter and fiscal 2017 operating and financial results on February 14, 2018. The imaging and surveillance systems Company beat earnings expectations. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is currently working on the research report for Luna Innovations Incorporated (NASDAQ: LUNA), which also belongs to the Technology sector as the Company FLIR Systems. Do not miss out and become a member today for free to access this upcoming report at:

www.active-investors.com/registration-sg/?symbol=LUNA

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, FLIR Systems most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=FLIR

Earnings Highlights and Summary

FLIR's Q4 2017 revenue grew 4% to $494.8 million compared to revenue of $474.7 million. The Company's organic revenue growth was 2% with prior year's acquisitions contributing approximately 2% of revenue growth in the reported quarter. FLIR's reported numbers falling short of analysts' estimates of $501.1 million.

During Q4 2017, FLIR's GAAP operating income declined 16% to $77.2 million compared to $92.3 million in Q4 2016. In the reported quarter, the Company's GAAP operating income was negatively impacted by a $23.6 million non-cash loss on net assets held for sale related to the Lorex retail and small and medium-sized business (SMB) portion of the Security segment. FLIR's GAAP operating margin decreased to 15.6% in the reported quarter compared to 19.4% in the prior year's same quarter.

For Q4 2017, FLIR's adjusted operating income was $111.7 million, which was 8% higher than adjusted operating income of $103.2 million in Q4 2016. The Company's adjusted operating margin increased 90 basis points to 22.6% compared to 21.7% in the year earlier same quarter.

FLIR's GAAP net loss was $50.3 million, or $0.36 per diluted share, in Q4 2017 compared to GAAP net earnings of $61.5 million, or $0.45 per diluted share, in Q4 2016. The Company's reported quarter GAAP net earnings were negatively impacted by the non-cash loss on the net assets held for sale as well as $92.7 million, or $0.67 per diluted share, of discrete tax items associated with the enactment of US tax reform.

FLIR's adjusted net earnings were $0.58 per diluted share in Q4 2017, which was 12% higher than adjusted earnings per diluted share of $0.52 in Q4 2016. The Company's earnings beat Wall Street's estimates of $0.56 per share.

For the full year 2017, FLIR's revenue was $1.80 billion, up 8% compared to $1.66 billion for FY16. The Company's organic revenue growth was 2% with prior year's acquisitions contributing approximately 6% of revenue growth in FY17.

For FY17, FLIR's GAAP net earnings were $107.2 million, or $0.77 per diluted share, compared to GAAP net earnings of $166.6 million, or $1.20 per diluted share, in FY16. The Company's GAAP earnings in FY17 were negatively impacted by the non-cash loss on net assets held for sale and $58.4 million higher discrete tax items on a y-o-y basis.

FLIR Systems' Segment Results

During Q4 2017, FLIR's revenue from the Surveillance segment was $151.0 million, reflecting a decline of 5% on a y-o-y basis.

For Q4 2017, the Instruments segment contributed $102.6 million of revenue up 7% on a y-o-y basis. The Company's Security segment recorded revenue of $71.0 million, down 3% on a y-o-y basis. FLIR's OEM & Emerging Markets segment had $87.7 million of revenue, reflecting an increase of 15% over the prior year's same quarter, driven by the addition of the Integrated Imaging Solutions line of business near the end of Q4 2016. In Q4 2017, revenue from the Maritime segment was $43.8 million, which was 14% higher on a y-o-y basis. The Detection segment contributed $38.7 million of revenue, an increase of 18% on a y-o-y basis and was driven by timing of DR-SKO program shipments.

Cash Matters

During Q4 2017, FLIR's cash provided by operations was $98.9 million compared to $97.1 million in Q4 2016. The Company's cash provided by operations was $308.3 million during FY17 compared to $319.8 million in FY16.

Stock Performance Snapshot

March 22, 2018 - At Thursday's closing bell, FLIR Systems' stock declined 2.07%, ending the trading session at $49.56.

Volume traded for the day: 1.00 million shares.

Stock performance in the last month – up 2.59%; previous three-month period – up 4.40%; past twelve-month period – up 37.55%; and year-to-date – up 6.31%

After yesterday's close, FLIR Systems' market cap was at $6.93 billion.

Price to Earnings (P/E) ratio was at 34.16.

The stock has a dividend yield of 1.29%.

The stock is part of the Technology sector, categorized under the Scientific & Technical Instruments industry.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

CONTACT

For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:

Email: info@active-investors.com

Phone number: 73 29 92 6381

Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: Active-Investors