FLIR Sees Weaker Q3; Lowers FY13 Outlook - Quick Facts

(RTTNews) - FLIR Systems, Inc. (FLIR), Tuesday said its third-quarter preliminary results were negatively impacted by weakness in markets that have exposure to the U.S. federal government. The company now expects to report revenues of about $358 million to $360 million and earnings of about $0.32 to $0.33 per share for the quarter. Analysts expect the company to report revenues of $370 million, and earnings of $0.37 per share.

FLIR, further, said it expects to record a pre-tax restructuring charge of about $27 million to $30 million in the fourth quarter related to the realignment of global operations and additional cost reduction measures. The company, however, expects savings from these actions to exceed $20 million per year, when fully implemented.

The company lowered its full-year outlook, seeing a weaker third-quarter and anticipated impacts on the fourth quarter. FLIR now expects 2013 revenue to be in the range of $1.45 billion to $1.5 billion, lower than previously expected $1.5 billion to $1.6 billion. Earnings are now expected to be in the range of $1.38 to $1.43 per share, down from prior expectations of $1.56 to $1.66 per share. Analysts expect the company to report revenues of $1.52 billion and earnings of $1.59 per share.