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:
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:
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:
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.
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.
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