Flir revenue up 2% to $1.9bn for 2020

Share this on social media:

Flir has posted revenue of $1.9bn last year, two per cent growth over 2019. Revenue for the fourth quarter of 2020 was $524.3m, seven per cent up on the same period in 2019.

Revenue for the company's Industrial Technologies unit was $1.16bn, an increase of 5.9 per cent compared to the prior year. The growth was primarily attributable to demand for elevated skin temperature (EST) solutions because of the pandemic, Flir said. This was partially offset by lower volume in certain commercial end markets such as maritime and security products.

The Industrial Technologies segment's operating income was $344.4m, compared to $276.2m in the prior year. Segment operating margin increased to 29.8 per cent from 25.3 per cent.

Industrial Technologies bookings totalled $1.18bn for the year, representing a book-to-bill ratio of 1.02.

In the fourth quarter, revenues increased by 7.2 per cent to $298.3m because of demand for EST solutions.

Flir ended the year with $297.8m in cash and cash equivalents and approximately $595.4m in borrowing capacity. The Teledyne transaction is expected to close in the middle of 2021 subject to the receipt of required regulatory approvals.

Related news

25 March 2021

The effects of the pandemic were felt by Stemmer Imaging in the 2020 fiscal year, however, with revenue at €105.2m compared to €120.6m in 2019

Image: Martial Red/

06 July 2021

The involvement by Sinovation and its founder Dr Kai-Fu Lee strengthens Prophesee's presence in China

Investment in automation equipment is being made in battery production. Credit: Kuka

14 June 2021

The VDMA pointed to a number of green technologies – including plans for the sixth largest solar power plant in the world to be built in Turkey – that are driving growth in automation equipment sales

12 May 2021

Basler saw bookings up 27 per cent, but the company is 'suffering from the global shortage of semiconductor components'

07 May 2021

The company recorded $239m in revenue, which is also a 7 per cent increase over the fourth quarter of 2020

31 March 2021

Basler has announced 2020 sales of €170.5m, up on the previous year of €162.0m. Incoming orders were €181.6m compared to 2019's €166.5m