Flir Marks Successful Foray Into Consumer Market

Flir Systems Inc. ended its fiscal year with increased revenues and profits, having marked a successful entrance into the consumer market with thermal cameras for smartphones.

“During the year we introduced several new products that revolutionized our industry, opened up large consumer markets, and expanded the accessibility of our advanced sensor technologies to a much broader set of people,” said CEO Andy Teich, referring to the Flir One phone accessory and other products.

Revenue was $1.530 billion, up 2 percent from $1.496 billion in 2013. Net income was $200.3 million, up 13 percent from $177.0 million in 2013.

The company expects 2015 revenue to be in the range of $1.55 billion to $1.6 billion.

Sales grew in all but one of the company’s business units in the fourth quarter of 2014, including a 35 percent jump to $56.4 million in its security segment and a 19 percent increase to $26.2 million in its detection segment.

Flir develops systems and components for thermal imaging, situational awareness and security applications, including airborne and ground-based surveillance, condition monitoring, navigation, recreation, research and development, manufacturing process control, search and rescue, drug interdiction, transportation safety, border and maritime patrol, environmental monitoring and chemical, biological, radiological, nuclear and explosives (CBRNE) threat detection.

For more information, visit www.flir.com.