FLIR Systems Q2 Profit Up, But Misses Estimates; Backs FY13 View

(RTTNews) - FLIR Systems, Inc. (FLIR), a maker of sensor systems, Thursday reported increase in net income for the second quarter, on higher revenues. However, earnings per share missed the Street estimates by a penny. The company also reiterated its full-year outlook.

For the three-month period, the company reported net earnings of $50.1 million or $0.35 per share, compared with $41.09 million or $0.27 per share during the same quarter last year.

On average, twelve analysts polled by Thomson Reuters expected earnings per share of $0.36 for the quarter. Analysts' estimates typically exclude one-time items.

The company logged revenues of $389.3 million, a 15 percent increase from $338.3 million reported during the corresponding quarter last year. The Street expected the company to report revenues of $365.29 million for the quarter.

FLIR, further declared a quarterly cash dividend of $0.09 per share payable on September 6 to shareholders of record on August 19, 2013.

The company also reaffirmed its full-year revenues to be in the range of $1.5 billion to $1.6 billion and net earnings in the range of $1.56 to $1.66 per share. Analysts expect the company to report earnings per share of $1.61 on revenues of $1.49 billion for the year.