FLIR Systems (FLIR) Tops Q4 EPS by 3c, Miss on Revenues; Offers FY18 EPS/Revenues Outlook Below Consensus

FLIR Systems (NASDAQ: FLIR) reported Q4 EPS of $0.58, $0.03 better than the analyst estimate of $0.55. Revenue for the quarter came in at $494.8 million versus the consensus estimate of $502.74 million.

• Achieves Highest Annual Revenue in Company History
• Fourth Quarter and Full Year Revenue Growth of 4% and 8% over Prior Year, Respectively
• Fourth Quarter Reported EPS of ($0.36)
• Adjusted EPS of $0.58, Up 12% over Prior Year
• Backlog Increases 10% over Prior Year

Revenue and Earnings Outlook for 2018

FLIR estimates revenue in 2018 to be in the range of $1.73 billion to $1.76 billion and adjusted earnings per diluted share to be in the range of $2.05 to $2.10. This represents 4% to 6% organic revenue growth and 9% to 12% growth in adjusted earnings per diluted share over 2017, excluding the results of the divested portion of the Security segment which was announced and closed on February 6, 2018, which contributed $140 million of revenue and was break-even in operating profit in 2017. Adjusted earnings per share assumes an effective tax rate of 21.5% and a diluted share count of approximately 142 million shares.

GUIDANCE:

FLIR Systems sees FY2018 EPS of $2.05-$2.10, versus the consensus of $2.12. FLIR Systems sees FY2018 revenue of $1.73-1.76 billion, versus the consensus of $1.91 billion.

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

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