FLIR Systems Q1 Profit Tops View; Backs 2015 Outlook - Quick Facts

(RTTNews) - Flir Systems, Inc. (FLIR) posted first-quarter net income of $47.9 million, or $0.34 per share, up from $29.9 million, or $0.21 per share a year ago. Net income was impacted by after-tax restructuring charges of $0.2 million in the first quarter of 2015 and $6.4 million, or $0.04 per share, in the first quarter of 2014.

On average, 8 analysts polled by Thomson Reuters expected the company to earn $0.32 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly revenue of $344.52 million was down 2% compared with first quarter 2014 revenue of $351.54 million, while nine analysts estimated revenues of $363.97 million for the quarter. Foreign currency exchange fluctuations negatively impacted revenue growth by approximately 5 percentage points year over year.

Looking ahead, the company continues to expect 2015 net earnings to be in the range of $1.60 to $1.70 per share and revenue in the range of $1.55 billion to $1.6 billion and Analysts are looking for annual earnings of $1.66 per share on revenues of $1.59 billion.

The board has declared a quarterly cash dividend of $0.11 per share on FLIR common stock, payable June 5, 2015, to shareholders of record as of close of business on May 22, 2015.