FLIR Systems Q3 Profit Down
WILSONVILLE (dpa-AFX) - FLIR Systems, Inc. (FLIR) Thursday reported a decrease in third-quarter net income, reflecting higher expenses, that offset the increase in revenues. Earnings per share matched the consensus estimates.
For the three-month period, the company reported net earnings of $46.4 million or $0.32 per share, compared with $55.9 million or $0.37 per share last year.
On average, nine analysts polled by Thomson Reuters expected the company to report earnings per share of $0.32 for the quarter. Analysts' estimates typically exclude one-time items.
Revenues for the period increased to $358.1 million, from prior year's $332.2 million. Analysts expected the company to generate revenues of $358.39 million for the quarter.
Total operating expenses increased to $109.3 million, compared with $99.1 million last year.
Further, the Board declared a quarterly cash dividend of $0.09 per share, payable on December 6, to shareholders on record November 18.
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