FLIR Systems (FLIR) Tops Q1 EPS by 4c, Revenues Beat; Offers FY19 EPS/Revenue Guidance

FLIR Systems (NASDAQ: FLIR) reported Q1 EPS of $0.53, $0.04 better than the analyst estimate of $0.49. Revenue for the quarter came in at $444.7 million versus the consensus estimate of $440.97 million.

• GAAP Diluted EPS of $0.45; Adjusted Diluted EPS of $0.53, Up 10% Over Prior Year
• Revenue Growth of 1%; Organic Revenue Growth of 1% Over Prior Year
• Organic Bookings Growth of 34% Over Prior Year
• GAAP Operating Margin Improves 560 Basis Points; Adjusted Operating Margin Improves 190 Basis Points Over Prior Year

“Overall, we are pleased with our start to 2019,” said Jim Cannon, FLIR President and Chief Executive Officer. “In the quarter, improvements in our product mix and continued commitment to the FLIR Method productivity initiatives drove meaningful margin expansion year over year, resulting in double-digit earnings growth.”

Mr. Cannon continued, “With another quarter of robust bookings – combined with significant opportunities across the portfolio, including our two recent unmanned acquisitions – FLIR is well-positioned for strong performance through 2019 and beyond.”

GUIDANCE:

FLIR Systems sees FY2019 EPS of $2.30-$2.36, versus the consensus of $2.35. FLIR Systems sees FY2019 revenue of $1.92-1.95 billion, versus the consensus of $1.92 billion.

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

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