FLIR Systems, citing weakness in markets that depend on the U.S. government and predicting “ongoing uncertainty,” will close six sites in the United States and Europe and transfer those operations to larger facilities.
The parent company of Raymarine also announced plans to consolidate its optics and laser manufacturing businesses.
Preliminary third-quarter results were negatively affected by weakness in markets that have exposure to the federal government, the company said.
"Ongoing uncertainty in the U.S. government is likely to continue to affect our performance in the fourth quarter, and our revised guidance is intended to reflect this environment,” FLIR CEO and president Andy Teich said in a statement.
"While we are disappointed in the preliminary results for the third quarter, we have also taken steps, above and beyond those related to our strategic review, to reduce costs in response to the current operating environment.”
FLIR will release full financial results for the third quarter at 7:30 a.m. EDT on Oct. 24.