Thanks for visiting Imaging and Machine Vision Europe.

You're trying to access an editorial feature that is only available to logged in, registered users of Imaging and Machine Vision Europe. Registering is completely free, so why not sign up with us?

By registering, as well as being able to browse all content on the site without further interruption, you'll also have the option to receive our magazine (multiple times a year) and our email newsletters.

Defence cuts hit Flir, but commercial division up 15 per cent

Share this on social media:

Flir's Government Systems division Q4 2013 revenue has shown a drop of 10 per cent from the same period in 2012, to $155.7 million, because of reduced US defence spending. Revenue from its Commercial Systems division, however, increased 15 per cent to $244.6 million.

Overall, the company was up 4 per cent to $400.3 million for the quarter compared to the same period in 2012. Revenue for the whole of 2013 was $1,496.4 million, up 6 per cent compared to 2012.

‘Our financial results were impacted by slowed activity from domestic defence customers and our planned spending and restructuring charges; however, we recorded a record level of cash flow in 2013,’ said Andy Teich, president and CEO of Flir. 

Within the Government Systems division, revenue from the Surveillance segment was $124.7 million, a decrease of 9 per cent from Q4 2012.

Operating income for 2013 was $240.7 million compared to $303.3 million in 2012. Net income for 2013 was $177 million, or $1.22 per diluted share, compared with 2012 net income of $222.4 million, or $1.45 per diluted share. Cash provided by operations reached a record high $355 million during the year, growing 24 per cent over 2012.

Recent News

06 December 2019

Cobey McGinnis at the University of North Carolina Charlotte has been recognised with the Norman Edmund Inspiration Award for work on a single-pixel hyperspectral camera

06 December 2019

Flir Systems has made a strategic investment in Providence Photonics, a provider of software used to quantify gas emissions

21 November 2019

Scientists at the Dresden University of Technology have developed a high-speed imaging technique able to analyse cell samples 10,000 times faster than conventional methods

19 November 2019

A project to improve vocational learning through an interactive, imaging-based workstation is underway in Germany, coordinated by Ludwig-Maximilians-University Munich