FLIR Systems Withdraws FY20 Outlook Amid COVID-19 - Quick Facts

(RTTNews) - While reporting financial results for the first quarter on Wednesday, industrial technology company FLIR Systems, Inc. (FLIR) said it is withdrawn its previously issued earnings and revenue guidance for the full-year 2020 as the magnitude and duration of the COVID-19 outbreak, including its impact to FLIR's operations, supply chain partners and customers, remains uncertain.

The COVID-19 pandemic has generated significant uncertainty, including an overall lack of visibility into future demand trends and economic conditions in the markets in which FLIR operates.

Meanwhile, FLIR's Board of Directors has declared a quarterly cash dividend of $0.17 per share on FLIR common stock, payable on June 5, 2020 to shareholders of record as of close of business on May 22, 2020.

The company said it expects to continue to provide returns to its stockholders in the form of quarterly dividends. However, in order to preserve cash given the COVID-19 pandemic, FLIR will pause its share repurchase activity for the foreseeable future.