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FLIR Systems (FLIR) Trims Guidance, Shares Plunge

By  +Follow October 15, 2013 1:28PM
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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.

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Results for FLIR
Dakota Financial
26 May 15 16:09:13
FLIR Systems Receives “Buy” Rating from Needham & Company LLC $FLIR http://t.co/17rZnawsCH
US Banking News
26 May 15 16:04:59
FLIR Systems Rating Reiterated by Needham & Company LLC $FLIR http://t.co/sxbujVouU2
ProVesting
26 May 15 16:03:04
$FLIR: FLIR Systems Receives “Buy” Rating from Needham & Company ...: http://t.co/EmGdsk3XM8
FirstToMarkets
26 May 15 16:00:05
FLIR Systems Reiterated Rating by Needham & Co (Ranked 57th) to Buy with 38 PT $FLIR #FLIR http://t.co/HrKju5wl2l & Co
Ticker Report
26 May 15 15:56:19
FLIR Systems Given “Buy” Rating at Needham & Company LLC $FLIR http://t.co/c1sPL20MXe
US Consumer News
26 May 15 15:45:45
FLIR Systems's buy rating reiterated at Needham & Company LLC. $38.00 PT. http://t.co/3vUC7bd0Z8 $FLIR #FLIR
Analyst Ratings
26 May 15 15:45:43
FLIR Systems's buy rating reiterated at Needham & Company LLC. $38.00 PT. http://t.co/Sg3TLJUQdB $FLIR #FLIR
Daily Contracts
26 May 15 11:38:01
Real-Time feed of company contracts, original agreements and executive updates from $FLIR http://t.co/QgeL30fye1
Stephens Inc
26 May 15 06:20:51
Morning Brief: Stephens releases research reports on $FLIR $FRED $HIBB $MNRO $MOV $PRTY $SIG $SYRG #SIResearch http://t.co/fFSBoKPnNX
Trading Quotient
26 May 15 06:20:36
26 May 2015: Uptrend Stocks in Technology $ACN $ADBE $ADP $APH $CSC $CSCO $CTSH $FLIR $IBM $INTU http://t.co/s6zq08Gkhl
CSIMarket.com
25 May 15 12:51:07
$BA $FLIR $HON $HRS $LLL #Aerospace and Defense Industry 1st quarter Growth update: Aerospace and Defense Indu... http://t.co/1QVYWWEoaJ
Pepe Plata
25 May 15 11:48:11
$CUDA Barracuda Networks Inc $38.88 http://t.co/4QkmEiW4VX $ACN $ADBE $ADP $APH $CSC $CSCO $CTSH $FLIR $IBM $INTU
Trading Quotient
25 May 15 06:20:38
25 May 2015: Uptrend Stocks in Technology $ACN $ADBE $ADP $APH $CSC $CSCO $CTSH $FLIR $IBM $INTU http://t.co/3x5N68nMXf
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25 May 15 00:53:39
$GMCR Keurig Green Mountain Inc $90.76 http://t.co/4QkmEiW4VX $ACN $ADBE $ADP $APH $CSC $CSCO $CTSH $FLIR $IBM $INTU
Pepe Plata
24 May 15 06:30:07
http://t.co/0TzsjiGtNc $TUBE TubeMogul Inc $15.11 $ACN $ADBE $ADP $APH $CSC $CSCO $CTSH $FLIR $IBM $INTU
Trading Quotient
24 May 15 06:20:36
24 May 2015: Uptrend Stocks in Technology $ACN $ADBE $ADP $APH $CSC $CSCO $CTSH $FLIR $IBM $INTU http://t.co/YRLKlKLWzr
Trading Quotient
23 May 15 06:20:39
23 May 2015: Uptrend Stocks in Technology $ACN $ADBE $ADP $APH $CSC $CSCO $CTSH $FLIR $IBM $INTU http://t.co/PnfOctw483
Breaking News
22 May 15 13:59:03
$FLIR: Flir Systems Inc (FLIR) Insider Selling : William Wright Crouch Sells ...: http://t.co/PHGRUjF5x6
InvestWithConf
22 May 15 12:51:03
$FLIR is rated BUY, 17.5% upside by Wall Street analysts based on average ratings/targets http://t.co/s1Gb0x96rA http://t.co/Zc5qoZzSlA
Trading Quotient
22 May 15 06:20:42
22 May 2015: Uptrend Stocks in Technology $ACN $ADBE $ADP $AKAM $APH $CSC $CSCO $CTSH $FLIR $INTU http://t.co/l09FUrT8XW
BreakingStocksNews
21 May 15 18:02:14
$FLIR: William Crouch Insider Trade for 300 Shares of FLIR Systems, Inc ...: http://t.co/5DQp0NsjaE
Breaking News
20 May 15 12:28:02
$FLIR: Earnings of $0.39 Expected in Q2 for FLIR Systems, Inc. (NASDAQ ...: http://t.co/qSeAIBdUQq
AlphaStreet
20 May 15 12:05:29
$FLIR Form 4: On May 18, 2015, William Wright Crouch, Director, sold 300 shares at $32. William currently owns 12,040 shares.
AlphaStreet
20 May 15 12:05:11
$FLIR Form 4: On May 18, 2015, William Wright Crouch, Director, exercised 300 stock options & acquired the same number of shares at $12.91.
Insider Filings
20 May 15 09:49:10
$FLIR: Crouch William Wright sold a net $5,727 in FLIR SYSTEMS INC. http://t.co/B2LUn5llwM
ProVesting
20 May 15 09:48:57
$FLIR: New Insider Transaction on FLIR by Director: http://t.co/8wTIOsIvwQ
Insider Alerts
20 May 15 09:48:13
NEW insider transaction on $FLIR reported a moment ago: http://t.co/6FZiZkwWX1
Analyst Ratings
20 May 15 08:18:55
Want the latest upgrades & downgrades for $KNOL $V $FLIR $CADX $HI? Checkout ARN Daily http://t.co/nSJuDsYidj
Trading Quotient
20 May 15 06:20:49
20 May 2015: Uptrend Stocks in Technology $ACN $ADBE $ADP $AKAM $BRCM $CSCO $CTSH $FFIV $FLIR $IBM http://t.co/bVAArrzl4H
Market Int Center
20 May 15 06:20:09
FLIR Systems $FLIR Showing Bullish Technicals With Support At $31.67 ( http://t.co/HzPzdQU9xk )
TV_Trading Ideas
19 May 15 09:55:08
FLIR $FLIR http://t.co/lSiMtvgNwz
Investors Hangout
19 May 15 08:07:17
VPEMY Last Trade Click Here -> http://t.co/iTwpqrtsYG Trending $VPEMY $FSTR $WORC $FLIR #VPEMY #invest #stockmarket
Media Sentiment
19 May 15 07:29:14
$FLIR received a new alert. Find out why at http://t.co/nZwqReM0tj #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 236
Market Int Center
19 May 15 07:26:58
FLIR Systems $FLIR Showing Bullish Technicals With Support At $31.46 ( http://t.co/UCxLwgr2D5 )
Trading Quotient
19 May 15 06:20:46
19 May 2015: Uptrend Stocks in Technology $ACN $ADBE $ADP $AKAM $BRCM $CTSH $FFIV $FLIR $IBM $INTU http://t.co/Yt8xaOvtXR
Sleek Money
19 May 15 05:50:39
FLIR Systems, Inc. To Go Ex-Dividend on May 20th $FLIR http://t.co/jJoqIeC9FG
leahanne
18 May 15 17:10:35
MCTZF Day High Click Here -> http://t.co/ofEt6KELPI Trending $MCTZF $FLIR $UNM $DGLPQ #MCTZF #tradeideas #finance
Market Int Center
18 May 15 11:22:08
Potential FLIR Systems $FLIR Trade Targets 5.54% Return ( http://t.co/cInw6EBRGR )
BreakingStocksNews
18 May 15 09:49:03
$FLIR: Stock in Motion: FLIR Systems, Inc. (NASDAQ:FLIR): http://t.co/AJ0lhBfbS1
Trading Quotient
18 May 15 06:20:52
18 May 2015: Uptrend Stocks in Technology $ACN $ADBE $AKAM $BRCM $CSCO $CTSH $FFIV $FLIR $IBM $INTU http://t.co/jk10ggGsOm
				
				
By  +Follow October 15, 2013 1:28PM
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