FLIR Systems (FLIR) Misses Q4 EPS by 1c

FLIR Systems (NASDAQ: FLIR) reported Q4 EPS of $0.47, ex-items, $0.01 worse than the analyst estimate of $0.48. Revenue for the quarter came in at $437.6 million versus the consensus estimate of $427.45 million.

GUIDANCE:

FLIR Systems sees FY2016 EPS of $1.60-$1.70, versus the consensus of $1.72. FLIR Systems sees FY2016 revenue of $1.6-1.65 billion, versus the consensus of $1.62 billion.

"The fourth quarter was in-line with our expectations. While revenues were up only slightly year over year given the strong dollar, our operating profitability improved due to strong execution and focus on costs. Cash flow from operations grew considerably compared to the fourth quarter of 2014 as we improve our working capital utilization. Additionally, sales bookings growth of over 20% during the fourth quarter resulted in the highest ending backlog balance since 2008," said Andy Teich, President and CEO of FLIR. "We were pleased with the financial performance over the full year 2015, with operating income growing 18% and earnings per share up 24%. As we look forward to 2016, we intend to grow in our existing and new markets through continued product innovation, operational discipline, strategic marketing, and opportunistic use of our capital."

For earnings history and earnings-related data on FLIR Systems (FLIR) click here.

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