Incorporated in 1978, FLIR Systems, Inc. (FLIR - Free Report) is an Oregon-based corporation, which specializes in designing, manufacturing and marketing of thermal imaging systems. Its products are used in a wide variety of applications in commercial, industrial and government markets, both international and domestic. The company offers a variety of system configurations to suit specific customer requirements.
FLIR’s core strength in providing reliable and effective imaging and threat-detection technologies has been bolstering its growth momentum.
FLIR Systems’ financials have been hurting from waning consumer spending and capital investments over the past few quarters. Intensifying competition in retail channels is expected to add to FLIR Systems’ challenges.
FLIR has had a decent earnings surprise history. The company surpassed the Zacks Consensus Estimate in three of the trailing four quarters, with an average beat of 6.49%.
Currently, FLIR Systems has a Zacks Rank #3 (Hold) but that could change following its second-quarter 2018 earnings report which has just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
We have highlighted some of the key details from the just-released announcement below:
Earnings: FLIR Systems' adjusted earnings per share came in at 55 cents, beating the Zacks Consensus Estimate of 49 cents.
Revenue: Revenues of $452.7 million were higher than the Zacks Consensus Estimate of $426 million.
Key Stats: Revenue from the Industrial Business Unit was up 14% from the year ago quarter.The Government and Defense Business Unit also contributed 11% higher revenues than last year.
Stock Price: FLIR Systems' shares moved up about 0.9% in pre-market trading following the release, at the time of this write-up, thereby reflecting investors’ optimism toward this earnings results.
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