FLIR Systems Expects Lower First-Quarter Report
PORTLAND, Ore., April 27 -- FLIR Systems Inc. announced that it expects revenue for first quarter 1999 to be 12 to 16 percent lower than last year's consolidated first quarter revenue of $40.1 million. These results include the operations of Inframetrics Inc., which was acquired in March 1999; prior periods have been restated accordingly.
As a result of this anticipated shortfall in revenue, the company expects the reported loss from operations for the 1999 first quarter to exceed the restated consolidated net loss of $195,000, or $0.02 per share, reported in the first quarter of 1998. The loss for first quarter 1999 may be as large as $0.18 per share, and is prior to the previously announced charge related to the acquisition. FLIR plans to announce final first quarter results on April 28, 1999.
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