FLIR reports 2Q results

FLIR Systems said today that revenue rose 15 percent in the second quarter, to $389.3 million, from the comparable 2012 quarter and the company’s Raymarine segment contributed revenue of $46.9 million, down 1 percent from the prior year.

Operating income increased by 16 percent to $70.3 million for the quarter that ended June 30 and net income rose 22 percent to $50.2 million, or 35 cents a diluted share, a gain of 30 percent from the quarter a year earlier.

Cash provided by operations of $134.3 million broke a quarterly record at the Portland, Ore.-based company.

Revenue from FLIR’s commercial systems division increased 17 percent to $221.8 million. Revenue from the thermal vision and measurement segment was $175 million, an increase of 23 percent from second-quarter results last year.

"We saw solid growth in revenue, operating income, cash flow and earnings per share in the second quarter, and increased backlog in both divisions," FLIR president and CEO Andy Teich said in a statement.

"We introduced several new products during the quarter, with more on the horizon. I am very excited about our future, given our market presence, product suite and ability to execute for our customers and our shareholders."

Click here for the full release.


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