Sign in or Register

Already a member?

Sign in

Or sign in with your account on:

Not a member yet?


FLIR Systems (FLIR) Trims Guidance, Shares Plunge

By  +Follow October 15, 2013 1:28PM
Tickers Mentioned:

Thermal imaging manufacturer FLIR Systems (FLIR) took a hard hit on Tuesday after it reported preliminary earnings for the third quarter of 2013. The company cut its full-year guidance and showed lower-than-expected earnings. Shares declined almost 14 percent on the news.

Reliance on Government Markets Hurts Earnings

FLIR reported that weakness in those markets with exposure to the federal government drove a drop in profits below their expectations. FLIR now expects to report revenues of $358 million to $360 million, or $0.32 to $0.33 per share, for the quarter ending on September 30, 2013. This means full-year 2013 revenue projections have been reduced to $1.45 billion to $1.5 billion, or $1.38 to $1.45 per share, down from previously reported guidance of $1.5 billion to $1.6 billion, or $1.56 to $1.66 per share.

"While we are disappointed in the preliminary results for the third quarter, we have also taken steps, above and beyond those related to our strategic review, to reduce costs in response to the current operating environment, and we remain highly confident in our strategy and outlook for the future," said CEO Andy Teich. "Ongoing uncertainty in the U.S. government is likely to continue to affect our performance in the fourth quarter, and our revised guidance is intended to reflect this environment. We believe our CDMQ(R) strategy is the best alternative for government customers to acquire high performance intelligence, surveillance, reconnaissance, targeting, and detection capabilities with low cost, high quality, and outstanding value. We remain very enthusiastic about the opportunities in our commercial business in 2014 and beyond, and are committed to continuing to innovate for our customers and deliver value to our shareholders, as illustrated by our recent new product introductions and today's strategic business realignment."

Realigning Facilities

FLIR also reported that it would be closing as many as six of its not-to-scale sites and shifting production to other, larger facilities.

"The realignment of operations announced today is the culmination of a strategic operations review we began this past summer to further enhance operating efficiency and profitability and to improve our internal execution with better communication, collaboration, and cooperation across the company," said Teich.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.

Liked What You Read? Join Equities.com as a contributor and get eyeballs on your content FOR FREE!

Results for FLIR
Shawn Hager
21 Nov 14 11:35:40
Are you Bullish on these #stocks $FLIR $PAY $RSG $CAG #Stock http://t.co/7aNtdrQlyj
Market Int Center
21 Nov 14 11:07:27
FLIR Systems $FLIR Showing Support Near $31.23 ( http://t.co/6zEwaQe46d )
Daily Contracts
21 Nov 14 10:46:01
Real-Time feed of company contracts, original agreements and executive updates from FLIR Systems $FLIR http://t.co/QgeL30OKdD
Joe Barbee
21 Nov 14 08:55:18
Whats going on with $PRGO $FLIR $MDT $BLOX I suggest http://t.co/unO9MiNhM0
Hilde Phipps
21 Nov 14 08:48:43
Find out the latest on $FLIR $SWY $INCY $RT #wallstreet http://t.co/KeLO4MRd4r
Mauricio Deluca
21 Nov 14 07:47:31
Do you need #Stock #Research on $MORN $FLIR $OKE $FB Give it a try http://t.co/68Gmkb80BZ
Milagro Galloway
21 Nov 14 06:42:07
Are you looking for winners like $FLIR $HLF $DE $BWP Click http://t.co/5kbbSGlSWS
Ali Tyree
21 Nov 14 05:41:27
Bad #Invesments like got you down $MAA $SBUX $FLIR $FEYE View now http://t.co/q4cHBovG7m
Carlyn Mccloskey
21 Nov 14 04:53:32
Insider Trading alerts on $OC $FLIR $TEL $CADX #wallstreet http://t.co/NFPpLcSy4H
21 Nov 14 04:30:07
FLIR Systems : MILITARY $48,105 Federal Contract Awarded to FLIR Systems http://t.co/TS8PyN0Yyz $FLIR
Aurelio Marquis
21 Nov 14 04:10:24
Wow. Great #Stock #Research on $FLIR $DPS $HCP $CBM #overvalued ACCOUNT_SUSPENDED
Gita Hawkins
21 Nov 14 04:01:19
$ALXN Should you buy $FLIR $SAI $TRLA #wallstreet ACCOUNT_SUSPENDED
Jeraldine Babcock
21 Nov 14 03:37:37
Buying or selling? $GRMN $DLR $FLIR $RT Worth a look ACCOUNT_SUSPENDED
Necole Diaz
21 Nov 14 02:17:20
Find the next hot #pennystock $LSI $MHK $FLIR $GAIN #liquidity http://t.co/1ypFBa7tOR
Wilburn Miller
21 Nov 14 01:55:49
Are you hanging on to $TAHO $PKI $FLIR $USD #NASDAQ http://t.co/FjyR1tP6nW
Brice Means
21 Nov 14 00:27:04
Buy or sell? $CHRW $HTS $FLIR $IBM #wallstreet http://t.co/eYNzV6cZop
Saran Linton
20 Nov 14 22:40:48
Get #Pennystock Research on $FLIR $XLS $AGNC $USD #singedinvestor http://t.co/EbzTgEwhl9
Octavius Chandler
20 Nov 14 22:15:02
Small-cap stocks breaking 52-wk high prices $ETN $BBBY $FLIR $LGND #money http://t.co/bBM0n0KyIS
Arlen Larson
20 Nov 14 20:48:26
Todays Stocks you should Watch $LSI $BLK $FLIR $FXY #equity ACCOUNT_SUSPENDED
Rhona Keeling
20 Nov 14 20:40:23
Latest information on #stocks like $GRMN $CSX $FLIR $CI #moneymanagement http://t.co/24tWWtpFYi
Dmitri Nabors
20 Nov 14 20:33:48
Dont want to lose like you did with $SPW $FLIR $ESS $YOD #economy http://t.co/8ykNE7fsT5
Reid Garner
20 Nov 14 20:20:32
$JOY Keeping my Eye on $FLIR $BRKR $PCLN Worth a look ACCOUNT_SUSPENDED
Graysen Guevara
20 Nov 14 20:09:36
Are you looking to buy $SJM $IP $FLIR $USD View now ACCOUNT_SUSPENDED
Cinda Mock
20 Nov 14 20:09:26
$CFR Get research on $FLIR $NWL $GOOG Check out ACCOUNT_SUSPENDED
Hae Forman
20 Nov 14 19:42:12
Are you considering buying $SHLD $FLIR $DUK $CADX #StockMarket http://t.co/zaRb56Kf2K
Domenic Wooten
20 Nov 14 19:30:07
Keeping my Eye on $FLIR $CSL $AA $PCLN #overvalued ACCOUNT_SUSPENDED
Michelle Emery
20 Nov 14 19:28:41
Looking for research on $FLIR $ROL $C $CAG #NASDAQ http://t.co/QnyaS0u5Pj
Jaron Southern
20 Nov 14 18:31:42
$EXP Find more winners like $FLIR $BKU $OPK #wallstreet ACCOUNT_SUSPENDED
Eve Fenner
20 Nov 14 18:26:23
$AET Some Stocks to Watch $FLIR $BAC $GOGO #overvalued ACCOUNT_SUSPENDED
Zackery Hardesty
20 Nov 14 18:06:59
Are you considering buying $FLIR $NVDA $MSG $SSO #equity http://t.co/3PnbUZQGD1
Saran Linton
20 Nov 14 18:02:17
Buy or sell? $GGP $FLIR $MSM $FEYE View now http://t.co/fVTm1n5f15
Sanora Shoemaker
20 Nov 14 17:41:36
Dont want to lose like you did with $TGI $AXS $FLIR $ABX #wealthmanagement http://t.co/dgVmwaqT0y
Lavonia Mace
20 Nov 14 17:26:18
Are you looking for winners like $SIX $HD $FLIR $IGN #equity ACCOUNT_SUSPENDED
Jamila Werner
20 Nov 14 17:20:05
$AMG Are you looking for winners like $FLIR $THO $DF #NSE ACCOUNT_SUSPENDED
Dannette Sizemore
20 Nov 14 16:58:07
Shoud you sell or hold stocks like $EXC $WTM $FLIR $SLW #investing http://t.co/TfQfGBZoV8
Hugh Alvarez
20 Nov 14 16:34:19
$MON Best research on #stocks such s $FLIR $CVC $ABX #wallstreet ACCOUNT_SUSPENDED
Nga Fortenberry
20 Nov 14 15:52:01
Buy or sell? $OHI $FLIR $ESS $CAG #wallstreet http://t.co/P5Bz2UBVgc
Tyson Gerard
20 Nov 14 15:32:31
Buy or sell? $CPT $PM $FLIR $ISRG I suggest http://t.co/3UUzkktKQ4
Roxann Bayer
20 Nov 14 14:50:41
Do you need #Stock #Research on $URI $IRM $FLIR $CADX #money http://t.co/e8O6WjuLIR
Rusty Clements
20 Nov 14 14:35:12
#Stocks to hold onto $ARIA $STT $FLIR $DO Visit ACCOUNT_SUSPENDED
Bodhi Thatcher
20 Nov 14 14:27:29
#Stocks you migh want to Sell $ALXN $FLIR $STZ $NUAN Give it a try http://t.co/Gqs4sSjHLq
Joella Vitale
20 Nov 14 14:24:38
Should you hold or add to $INGR $TMO $FLIR $CI View now http://t.co/fxi83SSccZ
Graysen Guevara
20 Nov 14 13:57:13
Get more info on $FLIR $CXO $GMCR $CBM #Research ACCOUNT_SUSPENDED
Michael Dallas
20 Nov 14 13:38:06
Get research on $FLIR $AVY $UNH $OPK View now ACCOUNT_SUSPENDED
Erwin Mosby
20 Nov 14 12:38:13
Buying or selling? $PNR $GGP $FLIR $QLYS #Research ACCOUNT_SUSPENDED
Carlyn Mccloskey
20 Nov 14 12:28:07
5 Stocks you should be watching $SBH $IEX $FLIR $BWP #personalfinance http://t.co/2ZX3ZrfGTp
Cheyenne Ingalls
20 Nov 14 12:23:31
Earnings news on $FLIR $MAR $TSN $AMZN Must see ACCOUNT_SUSPENDED
Day Trade Alerts
20 Nov 14 12:19:18
via #AlertTrade SHORT Seller Alert $FLIR - FLIR SYSTEMS #ShortSeller #Stocks http://t.co/VS8RO1tb5N
Gita Hawkins
20 Nov 14 12:16:44
$MOLX Are you looking to buy $FLIR $DGX $HIT I suggest ACCOUNT_SUSPENDED
Marcelina Gallegos
20 Nov 14 12:10:13
Are you looking to buy $KEX $MCRS $FLIR $ISRG #liquidity ACCOUNT_SUSPENDED
By  +Follow October 15, 2013 1:28PM



blog comments powered by Disqus

About us

Equities.com is the most advanced interactive online social ecosystem for the financial industry, serving as a resource center and next-generation communication platform that connects self-directed investors with public issuers, market experts, and professional service providers and vendors. Registered members can leverage our exclusive proprietary research tools such as the Small-Cap Stars, which outperformed 90% of all small-cap mutual funds, and robust do-it-yourself E.V.A. research reports. The Equities.com Issuer Dashboard is the ideal tool to communicate and manage investor awareness campaigns to the investment community, as well as to access valuable resources to help your company grow.

Market Data powered by QuoteMedia.
Copyright © QuoteMedia. Data delayed 15 minutes unless otherwise indicated. Terms of Use.