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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
Investors Hangout
25 Apr 15 11:19:13
$FLIR stock EOD Data Click Here: http://t.co/h2QWQfLoyf Also See: $FRAN $FAF $ISIS $TWX #stockmarket #tradeideas ~
nasdaqfan
25 Apr 15 09:51:13
$FLIR stock Stock Forum Click Here: http://t.co/VYtLCsQJW5 Also See: $ROIAK $ADPT $DWSN $JBLU #stockmarket #tradeideas ~
IH NASDAQ OMX
25 Apr 15 09:29:50
$FLIR stock P/E Ratio Click Here: http://t.co/KD0xLDAIB1 Also See: $SIRO $AMZN $CRH $FEIC #stockmarket #tradeideas ~
Breaking News
25 Apr 15 08:21:03
$FLIR: FLIR Systems, Inc. (FLIR) Issues FY15 Earnings Guidance: http://t.co/VIii8cA7Mr
IH News Desk
25 Apr 15 06:56:02
$TOUR stock Summary Click Here: http://t.co/ugkEqycwy0 Also See: $FLIR $Q $PTIE $FTNT #stockmarket #invest #stocks #tradeideas ~
StockNewsWires
25 Apr 15 05:20:05
$FLIR: FLIR Systems, Inc. Declares Quarterly Dividend of $0.11 (FLIR): http://t.co/cdYjysJs5Z
The Legacy News
25 Apr 15 04:27:26
FLIR Systems $FLIR Announces Earnings Results http://t.co/06I5VbQ9ZF
StockNewsWires
24 Apr 15 23:30:02
$FLIR: FLIR Systems Sees Strong Trading Volume After Strong Earnings ...: http://t.co/exZYGfpwEs
dailystockplays.com
24 Apr 15 16:14:52
Ichimoku Red http://t.co/Vu2cSNdHG4 $XLE $DGAZ $MOS $STJ $DTV $LRCX $KKR $AEM $FLIR $EWP $GENE $MTZ $RLGY $FBHS $GMCR $NGL $SWI $WX
Follow The Money
24 Apr 15 15:39:20
Fridat Notable Release Earnings: $DDD $AAL $EAVX $BIIB $FLIR $IMGN #STT $SHOO $RUBI
Sentiquant
24 Apr 15 15:00:05
#volumeshiftup $EHTH $CPRX $AERI $STT $TYC $FLIR $GIMO $BT $AJG $RVBD #sentiquant 20150424 18:00:10:227
Sentiquant
24 Apr 15 13:00:19
#volumeshiftup $EHTH $CPRX $AERI $STT $TYC $FLIR $IPG $RVBD $GIMO $AJG #sentiquant 20150424 16:00:23:461
The Legacy News
24 Apr 15 12:42:24
FLIR Systems Sees Unusually-High Trading Volume After Better-Than-Expected Earnings $FLIR http://t.co/lut2rJHj0t
Sentiquant
24 Apr 15 12:00:15
#volumeshiftup $EHTH $CPRX $STT $TYC $FLIR $AERI $RVBD $IPG $GIMO $AJG #sentiquant 20150424 15:00:19:504
ProTradersNews
24 Apr 15 12:00:02
$FLIR: FLIR Systems Sees Strong Trading Volume After Strong Earnings ...: http://t.co/IfEQbgT13k
StockNewsWires
24 Apr 15 11:52:03
$FLIR: FLIR Systems Beats Q1 Earnings by a Penny, Guides In-Line: http://t.co/udvrNxisNg
Stocks News&Markets
24 Apr 15 11:43:03
$FLIR - Initial Statement of Beneficial Ownership (3) http://t.co/IURir9vmKt
NASDAQ
24 Apr 15 11:43:02
$FLIR - Initial Statement of Beneficial Ownership (3) http://t.co/W8td16aRWk
Daily Contracts
24 Apr 15 11:23:01
Real-Time feed of company contracts, original agreements and executive updates from $FLIR http://t.co/QgeL2ZXWPr
Sleek Money
24 Apr 15 11:20:46
FLIR Systems, Inc. $FLIR Releases FY15 Earnings Guidance http://t.co/jvHQ1zuA6E
Sentiquant
24 Apr 15 11:00:13
#volumeshiftup $EHTH $STT $TYC $FLIR $AERI $CPRX $IPG $RVBD $GIMO $AJG #sentiquant 20150424 14:00:18:292
AlphaStreet
24 Apr 15 10:36:46
$FLIR 1Q15 Q&A - Tim, Stephens: Update on number of new Lepton-based products introduced? CEO: Not introducing cores, six products launched.
The Legacy News
24 Apr 15 10:36:03
FLIR Systems, Inc. Announces $0.11 Quarterly Dividend $FLIR http://t.co/euWIqJZuTa
AlphaStreet
24 Apr 15 10:34:02
$FLIR 1Q15 Q&A - Tim, Stephens: How much of OEM is growth oriented? CEO: Has stable and growth element. Combined in it is Emerging business.
US Banking News
24 Apr 15 10:28:20
FLIR Systems, Inc. Announces $0.11 Quarterly Dividend $FLIR http://t.co/qNdaRUeMCY
Ticker Report
24 Apr 15 10:27:16
FLIR Systems, Inc. Announces $0.11 Quarterly Dividend $FLIR http://t.co/TF1wq6fJoe
AlphaStreet
24 Apr 15 10:02:06
$FLIR 1Q15 Q&A - Pete, Drexel Hamilton: Europe government & commercial revenue? CEO: Government, 15%. Hard to predict US spending.
AlphaStreet
24 Apr 15 09:59:02
$FLIR 1Q15 Q&A - Pete, Drexel Hamilton: New product acceptance? CEO: In line with expectations, especially in Instruments & Maritime space.
AlphaStreet
24 Apr 15 09:19:05
$FLIR 1Q15 Call - Dave, Interim CFO: Closed quarter with cash of $547.8MM. Cash flow from operations, $74.9MM. http://t.co/xWA51ZBUnx
AlphaStreet
24 Apr 15 09:10:13
$FLIR 1Q15 Call - Dave, Interim CFO: Consolidated GM, 51% and operating margin before restructuring, 19% vs. 14% in 1Q14.
AlphaStreet
24 Apr 15 09:07:23
$FLIR 1Q15 Call - Dave, Interim CFO: Security & Detection, 32-25% increase in sales YoverY respectively. All other segments, YoverY decline.
AlphaStreet
24 Apr 15 09:01:34
$FLIR 1Q15 Call - Andy, CEO: Launched FLIR FX home monitoring camera providing versatile, reliable and fun imaging & security solution.
Sentiquant
24 Apr 15 09:00:18
#volumeshiftup $EHTH $STT $TYC $AERI $IPG $RVBD $FLIR $DTE $XRX $BT #sentiquant 20150424 12:00:22:464
AlphaStreet
24 Apr 15 08:57:30
$FLIR 1Q15 Call - Andy, CEO: Adjusted operating margin, 19%. 1Q15-end backlog, $557MM, improving both sequentially and YoverY.
AlphaStreet
24 Apr 15 08:55:08
$FLIR 1Q15 Call - Andy, CEO: Revenue, $344.5MM and EPS if $0.34. EPS was up 35% excluding charges related to restructuring activities.
Hot Stock Bot
24 Apr 15 08:48:16
$FLIR goes down -3.34%, currently trading at $29.88
Sleek Money
24 Apr 15 08:20:50
FLIR Systems $FLIR Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS http://t.co/TLtBVsw2lr
StockEarnings.com
24 Apr 15 08:05:40
$FLIR Earnings result is already out. Check out historical price reaction after ER. http://t.co/eifDyPdr4p
AlphaStreet
24 Apr 15 08:04:00
$FLIR 1Q15 PR: Expects 2015 revenue to be $1.55-1.6Bil & diluted net EPS, excluding restructuring charges, to be $1.60-1.70.
AlphaStreet
24 Apr 15 08:02:23
$FLIR 1Q15 PR: Declared cash dividend of $0.11 per share payable June 5, 2015, to shareholders as of close of business on May 22, 2015.
AlphaStreet
24 Apr 15 08:00:54
$FLIR 1Q15 PR: Surveillance, $112.9MM; Instruments, $83.8MM; OEM, $39.8MM; Maritime, $51MM; Security, $38.8MM. http://t.co/MtNteSh963
AlphaStreet
24 Apr 15 07:48:59
$FLIR 1Q15 PR: Revenue, $344.5MM vs. $351.5MM in 1Q14. Net income, $47.9MM vs. $29.9MM in 1Q14. http://t.co/YuaPyYwR9x
FinSentS NASDAQ
24 Apr 15 07:26:23
$FLIR:US FLIR Systems : Announces First Quarter 2015 Financial Results #FLIR SYSTEMS INC http://t.co/dz13RYAqO8 #NASDAQ
Trader Daily
24 Apr 15 07:24:15
FLIR Systems $FLIR Weak On High Volume $FLIR http://t.co/JQ2mfQpQnw
FinSentS SP500
24 Apr 15 07:07:24
$FLIR:US FLIR Systems : Announces First Quarter 2015 Financial Results #FLIR SYSTEMS INC http://t.co/tPGHK1gphd #SP500
Rafael E. Robles
24 Apr 15 07:00:34
RT @Estimize: Well done @rerobles beating 5 other analysts and the Wall Street Consensus to take the win for $FLIR - http://t.co/PUYh5KLFku
StockNewsWires
24 Apr 15 06:50:04
$FLIR: FLIR Systems (FLIR) Issues Quarterly Earnings Results: http://t.co/dp3Vxo4lD2
Ticker Report
24 Apr 15 06:42:19
FLIR Systems $FLIR Issues Quarterly Earnings Results http://t.co/UwwdxwBkkO
Briefing.com
24 Apr 15 06:36:54
$FLIR: FLIR Systems beats by $0.02, misses on revs; reaffirms FY15 guidance http://t.co/Udrx56OM6A
Market Int Center
24 Apr 15 06:00:19
FLIR Systems $FLIR Showing Bearish Technicals ( http://t.co/JmDjyQ2dx0 )
				
				
By  +Follow October 15, 2013 1:28PM
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