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>

<< May 2015 >>
MTWTFSS
27 28 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

Offshore Well Control 2015

Safety Culture: Access innovative case studies on safety culture and leadership to ensure quality control, risk mitigation and process…

read more >

Fundamentals of Offshore Field Development

The course delivers the detailed knowledge required, along with management strategies, for you to successfully engage in the sector…

read more >

Fundamentals of Subsea Integrity & Reliability

The course is delivered by distance learning so it does not disrupt your work or home life, and is an invaluable introduction to this vital…

read more >

Pipeline Engineering, Construction and Operations

Pipelines are generally the most economical way to transport large quantities of liquids and gases over land and below the sea, such as oil…

read more >