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Revenue Up, but Profits Down at Flir

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PORTLAND, Ore., May 5, 2011 — In the first quarter of 2011, net income at thermal imaging manufacturer Flir Systems Inc. was $51.3 million, or 32 cents a share, compared with $55.9 million, or 35 cents a share, in the same quarter last year. The company’s revenue in the same period was $373.5 million, up 30 percent compared with $287.3 million in the first quarter of 2010. Operating income in the first quarter was $76.6 million, compared with $84.3 million last year, with the downturn attributed by the company to a lack of shipments related to the US Army’s Rapid Aerostat Initial Deployment (RAID)...Read full article

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