$FLIR (FLIR Systems, Inc.)

$FLIR {{ '2015-12-01T11:21:54+0000' | timeago}} • Announcement

$FLIR bought DVTEL Inc., a player in software and hardware technologies for advanced video surveillance, for about $92MM in cash. $FLIR anticipates this transaction will be neutral to 2015 net earnings and accretive thereafter.

$FLIR {{ '2017-06-09T12:15:05+0000' | timeago}} • Announcement

$FLIR said Amit Singhi has resigned as SVP, Finance, and CFO, effective July 31, 2017. Shane Harrison, SVP, Corporate Development and Strategy, will serve as the interim CFO of FLIR Systems from August 1, 2017. He will work closely with Singhi to ensure a smooth transition.

$FLIR {{ '2017-05-23T14:05:02+0000' | timeago}} • Announcement

$FLIR appointed James Cannon as President and CEO, effective June 19, 2017. Cannon will succeed Andy Teich, whose retirement after 33 years of service was previously announced on Feb. 14, 2017. Cannon will be based out of its Wilsonville, Oregon headquarters.

$FLIR {{ '2017-05-02T14:29:32+0000' | timeago}} • Announcement

$FLIR appointed Paul Sale as new SVP and Chief Human Resources Officer. Reporting to CEO Andy Teich, Sale will be charged with leading $FLIR's organizational strategy, talent acquisition and development, compensation, benefits, and corporate culture initiatives.

$FLIR {{ '2017-04-26T12:18:02+0000' | timeago}} • Announcement

For FY17, $FLIR expects revenue to be in the range of $1.775-1.825Bil and adjusted net EPS to be in the range of $1.81-1.91.

$FLIR {{ '2017-04-26T12:15:42+0000' | timeago}} • Announcement

$FLIR's revenue from the Surveillance segment during 1Q17 fell 4% to $118.7MM. Instruments segment revenue fell 2% to $77.9MM. Security segment contributed $45.1MM of revenue, down 4%. OEM & Emerging Markets segment revenue was up 77% to $84.8MM, Maritime segment revenue was $48.6MM, down 6% and detection segment revenue was $31.8MM, up 9%.

$FLIR {{ '2017-04-26T12:10:26+0000' | timeago}} • Announcement

Thermal imaging camera maker $FLIR reported a jump in 1Q17 earnings as last year's profit was negatively impacted by tax reserve. Net income rose to $42.6MM, or $0.31 per share, compared with $1.1MM, or $0.01 per share during 1Q16. Revenue rose 7% YoY to $406.8MM from $379.5MM. Excluding items, $FLIR earned $0.36 per share, up 13%.

$FLIR {{ '2017-03-07T15:51:56+0000' | timeago}} • Announcement

$FLIR has received a delivery order for 50 US Army Chemical, Biological, Radiological, and Nuclear Dismounted Reconnaissance Sets, Kits, and Outfits systems. The order is under a five-year indefinite delivery, indefinite quantity contract from the US Department of Defense. The order is valued at $54.2MM, with deliveries extending through 2Q18.

$FLIR {{ '2017-03-07T15:49:05+0000' | timeago}} • Announcement

$FLIR received a delivery order for 50 U.S. Army Chemical, Biological, Radiological, and Nuclear Dismounted Reconnaissance Sets, Kits, and Outfits (CBRN DR-SKO) systems from the U.S. Department of Defense. The order is valued at $54.2MM, with deliveries extending through 2Q18.

$FLIR {{ '2017-02-15T14:30:52+0000' | timeago}} • Announcement

$FLIR has been awarded a 5-year indefinite delivery, indefinite quantity contract totaling $50MM from U.S. Coast Guard. According to the contract, $FLIR will provide marine electronics systems under the Saclable Integrated Navigation Systems 2 (SINS-2) program.

$FLIR {{ '2017-02-14T19:07:32+0000' | timeago}} • Webcast

$FLIR expects total cash flow for 2017 to be higher than 2016 as the company is likely to have higher capital spending in 2017 than 2016. The current investments $FLIR is planning to make are included in this estimate. The company’s R&D spending for 2017 as a percent of revenue will be roughly consistent with 2016.

$FLIR {{ '2017-02-14T18:53:03+0000' | timeago}} • Webcast

$FLIR said the sequential GM declines in Instruments and OEM are one-time in nature and it plans to address the issues that led to the declines. Some issues in OEM were due to inventory improvement initiatives. $FLIR’s recently acquired entities have high GM and these will contribute to GM improvement along with new product launches.

$FLIR {{ '2017-02-14T18:16:23+0000' | timeago}} • Webcast

$FLIR's cash flow from operations for 4Q16 increased 24% from year-ago levels to $97.1MM. Capex was $8.3MM. During 4Q16, the company returned $16.4MM to shareholders through the payment of dividends. $FLIR ended 4Q16 with cash of $361MM.

$FLIR {{ '2017-02-14T18:06:46+0000' | timeago}} • Webcast

In 4Q16, $FLIR’s commercial products revenue grew 13% over 4Q15 and government products grew 3%. The strength in commercial products was driven by growth in the Maritime segment and the addition of newly acquired businesses.

$FLIR {{ '2017-02-14T16:32:54+0000' | timeago}} • Announcement

$FLIR said Andrew Teich, its President, CEO and a member of its BoD, plans to retire after 33 years of service. Teich will continue to serve in his current roles until a successor is appointed. The Board will conduct a comprehensive search for a new CEO. $FLIR has retained Korn Ferry International to assist in the search process.

$FLIR {{ '2017-02-14T13:00:53+0000' | timeago}} • Announcement

$FLIR expects revenue in 2017 to be $1.78-1.83Bil and adjusted diluted EPS to be $1.81-1.91. This represents 7-10% growth in revenue and 7-13% growth in adjusted diluted EPS.

$FLIR {{ '2017-02-14T12:59:29+0000' | timeago}} • Announcement

In 4Q16, $FLIR’s revenue from the Surveillance segment was $158.5MM, up 5% from 4Q15. The Instruments segment revenue was down 3% while the Security segment revenue was up 7% over 4Q15. OEM & Emerging Markets segment revenue rose 55%. Maritime segment revenue rose 6% and Detection segment revenue fell 6% versus 4Q15.

$FLIR {{ '2017-02-14T12:51:37+0000' | timeago}} • Announcement

$FLIR reported net income of $61.5MM or $0.45 per share in 4Q16 compared to $70.2MM or $0.51 per share in 4Q15. Adjusted net income was $71.9MM or $0.52 per share in 4Q16. Revenue was $474.7MM, up 8% compared to 4Q15.

$FLIR {{ '2016-11-30T13:17:21+0000' | timeago}} • Announcement

$FLIR acquired Prox Dynamics AS, a developer and manufacturer of nano-class unmanned aerial systems for military and para-military intelligence, surveillance, and reconnaissance applications, for approx. $134MM. $FLIR anticipates the business and related transaction costs will reduce its 2016 earnings per share by $0.01.

$FLIR {{ '2016-11-07T11:54:32+0000' | timeago}} • Announcement

$FLIR closed purchase of business of Point Grey Research Inc. for $259MM in cash. The business will be known as the Integrated Imaging Solutions line of business operating within $FLIR's OEM and Emerging segment. $FLIR sees business and related transaction costs to be about $0.01 dilutive to its 2016 EPS and accretive for 2017.

$FLIR {{ '2016-10-26T18:12:07+0000' | timeago}} • Webcast

$FLIR said the Cat Phone business, which is largest user of Lepton, has been going well. The phone maker has reordered a subsequent order ahead of their initial forecast for the year. So, demands are exceeding their expectations. $FLIR is fairly optimistic that the company should be able to see other platforms adopt the Lepton technology.

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