FLIR Systems Inc. (FLIR) reported third quarter net income of $60.0 million or $0.38 per diluted share, compared with net income of $54.8 million or $0.35 per diluted share a year-ago.
On average, 15 analysts polled by Thomson Reuters expected the company to report earnings of $0.35 per share. Analysts' estimates typically exclude special items.
Revenue for the quarter was $285.6 million, up 3% compared to third quarter 2008 revenue of $276.7 million. Fourteen Wall Street analysts expected revenues of $281.10 million.
Looking forward, the company now expects full year 2009 earnings per share to be slightly above the most recent outlook. On July 23, 2009 ,the company said it expects full year net earnings to be in the range of $1.40 to $1.44 per share. Analysts expect the company to earn $1.42 per share for full year 2009.
The company also announced that it has acquired OmniTech Partners, Inc. for $42 million in cash. OmniTech currently forecasts annual revenue of $22 million for the year ending December 31, 2009. The transaction is expected to be immaterial to FLIR's earnings in 2009 and 2010.
For comments and feedback: editorial@rttnews.com