Flir Systems Inc. Announces 98% Retreat In Q1 Earnings

(RTTNews) - Flir Systems Inc. (FLIR) reported a profit for first quarter that decreased compared to the same period last year.

The company said its bottom line dropped to $1.13 million, or $0.01 per share. This was lower than $47.91 million, or $0.34 per share, in last year's first quarter.

Analysts had expected the company to earn $0.32 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 10.1% to $379.47 million. This was up from $344.52 million last year.

Flir Systems Inc. earnings at a glance:

-Earnings (Q1): $1.13 Mln. vs. $47.91 Mln. last year. -Earnings Decline (Y-o-Y): -97.6% -EPS (Q1): $0.01 vs. $0.34 last year. -EPS Decline (Y-o-Y): -97.1% -Analysts Estimate: $0.32 -Revenue (Q1): $379.47 Mln vs. $344.52 Mln last year. -Revenue Change (Y-o-Y): 10.1%

-Guidance: Full year EPS guidance: $1.60 - $1.70 Full year revenue guidance: $1.6 - $1.65 Bln