Flir Systems: 4Q Earnings Snapshot
WILSONVILLE, Ore. (AP) _ Flir Systems Inc. (FLIR) on Wednesday reported fourth-quarter net income of $98.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Wilsonville, Oregon-based company said it had net income of 71 cents. Earnings, adjusted for one-time gains and costs, were 62 cents per share.
The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The imaging and surveillance systems company posted revenue of $448.5 million in the period, falling short of Street forecasts. Six analysts surveyed by Zacks expected $466.7 million.
For the year, the company reported profit of $282.4 million, or $2.01 per share. Revenue was reported as $1.78 billion.
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 climbed 17 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen 9.5 percent. The stock has increased almost 7 percent in the last 12 months.