Flir Systems misses 4Q profit forecasts

Flir Systems misses 4Q net income expectations, tops revenue forecasts

WILSONVILLE, Ore. (AP) _ Flir Systems Inc. (FLIR) on Tuesday reported fourth-quarter net income of $61.5 million.

On a per-share basis, the Wilsonville, Oregon-based company said it had net income of 45 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 52 cents per share.

The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The imaging and surveillance systems company posted revenue of $474.7 million in the period, surpassing Street forecasts. Six analysts surveyed by Zacks expected $452.3 million.

For the year, the company reported profit of $166.6 million, or $1.20 per share. Revenue was reported as $1.66 billion.

Flir Systems expects full-year earnings in the range of $1.81 to $1.91 per share, with revenue in the range of $1.78 billion to $1.83 billion.

Flir Systems shares have climbed roughly 1 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 4 percent. The stock has risen 27 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FLIR at https://www.zacks.com/ap/FLIR

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Keywords: Flir Systems, Earnings Report

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