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Flir Forecasts Weak 2Q Results On Government Demand Decline

DOW JONES NEWSWIRES Flir Systems Inc. (FLIR) predicted profit would fall in the second quarter as continued weak government demand weighed on revenue. Shares in the night-vision goggle maker fell 8.1% to $29.50 in after-hours trading. Through the close, the stock had risen 5.3% in the last year, weaker than the broader market's growth. Flir, which also makes broadcast camera systems, said it expected 35 cents a share in earnings excluding a settlement and related expenses, and it forecast revenue of $390 million. Analysts, who typically exclude one-time items, expected earnings of 39 cents a share on revenue of $412 million on average, according to a survey by Thomson Reuters. The company said that even though demand was strong in the commercial-systems division, weakness in the government-system unit hurt results. On Thursday, Flir said management was reviewing its full-year guidance ahead of a planned update on July 22, when it holds its second-quarter conference call. In April, the company narrowed its 2011 earnings view to $1.70 to $1.75 a share and increased its outlook for revenue to $1.7 billion to $1.75 billion. It previous quarterly results fell short of expectations as well. When it reported those results in April, Chief Executive Earl Lewis said the government division was hurt by slowed U.S. procurement, but pointed out the unit "executed well and worked diligently to position the businesses for continued growth." -By Joan E. Solsman, Dow Jones Newswires; 212-416-2291;

Stock News for Flir Systems (FLIR)
04/28/201606:02:01Amended Current Report Filing (8-k/a)
04/26/201607:35:41Current Report Filing (8-k)
04/25/201617:10:02Current Report Filing (8-k)
03/14/201616:07:41Additional Proxy Soliciting Materials (definitive) (defa14a)
03/14/201612:21:58Statement of Changes in Beneficial Ownership (4)
03/14/201612:21:28Statement of Changes in Beneficial Ownership (4)
03/08/201617:18:42Proxy Soliciting Materials (revised) (prer14a)
03/07/201611:39:19Statement of Changes in Beneficial Ownership (4)
03/02/201614:28:39Statement of Changes in Beneficial Ownership (4)
02/23/201611:22:29Statement of Changes in Beneficial Ownership (4)
02/16/201612:26:37Statement of Changes in Beneficial Ownership (4)
02/11/201607:31:55Current Report Filing (8-k)
02/10/201610:32:20Amended Statement of Ownership (sc 13g/a)
02/02/201607:53:20Amended Statement of Ownership (sc 13g/a)
01/26/201614:12:05Amended Statement of Ownership (sc 13g/a)
01/05/201616:56:00MARKET SNAPSHOT: U.S. Stocks Snap 3-day Slump, End Slightly Higher
01/05/201616:55:00MARKET SNAPSHOT: U.S. Stocks Snap 3-day Slump
01/05/201614:43:00MARKET SNAPSHOT: U.S. Stocks Fight Off Another Slump In Oil Prices
01/05/201611:03:00MARKET SNAPSHOT: U.S. Stocks Pulled Lower By Energy Plays
12/15/201512:04:45Statement of Changes in Beneficial Ownership (4)

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