USA: FLIR Revenues Drop 11 Pct

USA: FLIR Revenues Drop 11 Pct

FLIR Systems, Inc. announced financial results for the third quarter ended September 30, 2012. Revenue was $332.2 million, down 11% compared to third quarter 2011 revenue of $371.3 million.

Operating income in the third quarter was $74.2 million, compared to $85.4 million in the third quarter of 2011. Third quarter 2012 net income was $55.9 million, or $0.37 per diluted share, compared with net income of $64.7 million, or $0.40 per diluted share in the third quarter a year ago. Cash provided by operations in the third quarter was $46.4 million. During the quarter, the Company repurchased 1.9 million shares of its common stock at an average price of $19.96 per share.

Revenue from the Company’s Commercial Systems division decreased 8% from the third quarter of 2011, to $181.2 million. Within the Commercial Systems division, revenue from the Thermal Vision and Measurement segment was $149.5 million, a decrease of 7% from the third quarter results last year. The Raymarine segment contributed $31.7 million of revenue during the third quarter, down 11% from the prior year.

Revenue from the Company’s Government Systems division decreased 14% from the third quarter of 2011, to $151.0 million. Within the Government Systems division, revenue from the Surveillance segment was $115.9 million, a decrease of 17% from the third quarter of 2011. Revenue from the Detection segment was $15.4 million, a decrease of 27% compared to the third quarter of 2011, and the Integrated Systems segment contributed $19.7 million of revenue during the third quarter, an increase of 42% from the prior year.

The Company’s backlog of firm orders for delivery within the next twelve months was approximately $565 million as of September 30, 2012, an increase of $67 million during the quarter. Backlog in the Government Systems division was $392 million, increasing $58 million during the quarter. Backlog in the Commercial Systems division was $173 million, up $9 million during the quarter.

Press Release, October 26, 2012

Share this article

Follow Subsea World News

Events>

<< Jul 2015 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Africa International Petroleum Conference & Exhibition (AIPEC) 2015

The conference will cover areas like While the Window of Opportunities Continues to Widen for the Oil and Gas Industry, Creating Immense…

read more >

Marine Warranty Surveying

Marine warranty surveyors ensure that best industry practice and correct procedures are followed in the planning and execution of critical…

read more >

Practical Seismic Interpretation with Petrel

The course will cover the essential Geological and Geophysical information necessary to visualize and interpret seismic data…

read more >

4 week Introduction to ROV Systems

The course has been formulated to provide a basic understanding of how to safely perform operations and maintenance on an ROV system…

read more >