Flir second quarter revenues down 14 per cent

Share this on social media:

Flir Systems has announced its second quarter revenues are down 14 per cent compared to the same quarter in 2011.

The company’s divisions for Commercial Systems and Government Systems all saw a double digit decline in revenues. Within the two divisions, Commercial Systems’ thermal cameras saw a 14 per cent drop and Government Systems’ surveillance services was down 16 per cent. The outcome of the decline was that the second quarter revenue was $338.3 million, while the second quarter of 2011 saw a revenue of $391.6 million.

‘This second quarter proved difficult for our company,’ said Earl Lewis, president and chief executive officer of Flir. ‘Macroeconomic conditions impacted many of our largest markets, but we continued to manage our business in response to these challenges. Both divisions had meaningful increases in backlog during the quarter, and we further streamlined our operations.’

Lewis expects an improved second half to 2012 and a return to earnings growth in the fourth quarter.

Recent News

22 February 2021

Participants in the Embedded Camera API Exploratory Group will discuss requirements for new interoperability standards to accelerate market growth and reduce development costs

19 February 2021

On 4 March, panellists from Basler, MVTec, Sick, and Amazon Web Services will discuss developments in embedded vision during the Embedded World digital show. IMVE's Greg Blackman will moderate

12 February 2021

Cognex's revenue was $811m for the year, a 12 per cent year-on-year increase thanks to higher revenue from consumer electronics and e-commerce

10 February 2021

The firm's Lacera technology delivers greater than 90 per cent quantum efficiency and low noise architecture with up to 18-bit readout