FLIR Systems Inc. (FLIR) posted better-than-expected fourth-quarter EPS and retained its 2009 profit outlook.
Shares are up more than 13% this afternoon.
The company earned 35 cents per share, which topped estimates by 5 cents. The quarter saw a 15% year-over-year increase in revenue, amounting to $272 million. FLIR's government systems segment reported a 43% increase in revenue to $162.2 million, driven by strength in airborne applications.
FLIR maintained its full-year guidance, which ranges between $1.40 to $1.47 per share on revenue of $1.2 billion to $1.25 billion. Analysts are looking for a profit of $1.44 per share.
The consensus estimate for next year has fallen by 4 cents to $1.61 per share over the past month, reflecting a cut by 1 out of 10 analysts.
FLIR, a Zacks #3 Rank ("Hold") name, is moving on a higher-than-normal volume of 3.6 million, compared to the daily average of
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