logo
Plus   Neg
Share
Email

FLIR Systems Withdraws FY20 Outlook Amid COVID-19 - Quick Facts

While reporting financial results for the first quarter on Wednesday, industrial technology company FLIR Systems, Inc. (FLIR) said it is withdrawn its previously issued earnings and revenue guidance for the full-year 2020 as the magnitude and duration of the COVID-19 outbreak, including its impact to FLIR's operations, supply chain partners and customers, remains uncertain.

The COVID-19 pandemic has generated significant uncertainty, including an overall lack of visibility into future demand trends and economic conditions in the markets in which FLIR operates.

Meanwhile, FLIR's Board of Directors has declared a quarterly cash dividend of $0.17 per share on FLIR common stock, payable on June 5, 2020 to shareholders of record as of close of business on May 22, 2020.

The company said it expects to continue to provide returns to its stockholders in the form of quarterly dividends. However, in order to preserve cash given the COVID-19 pandemic, FLIR will pause its share repurchase activity for the foreseeable future.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Twitter could face a fine of up to $250 million from the U.S. Federal Trade Commission regarding its use of phone numbers and email addresses to target advertisements. Lord & Taylor joined the growing list of U.S. retailers who filed for bankruptcy amid the coronavirus pandemic. Lord & Taylor, one of the oldest department store chains in the U.S., filed for bankruptcy protection in the Eastern Court of Virginia on Sunday. The company operated 38 stores that have remained temporarily closed since March this year due to the pandemic. Thomson International Inc. is recalling Red, Yellow, White, and Sweet Yellow Onions for potential contamination with Salmonella, according to a statement by the U.S. Food and Drug Administration or FDA. The onions are in distribution since May 1, 2020. They were sold to wholesalers, restaurants, and retail stores in all 50 U.S. states, the District of Columbia and Canada.
Follow RTT