On Oct 18, Zacks Investment Research downgraded
FLIR Systems, Inc.
) to a Zacks Rank #5 (Strong Sell).
Why the Downgrade?
FLIR Systems has witnessed sharp downward estimate revisions
after announcing its preliminary third quarter results on Oct 15,
2013. The company's third quarter earnings were negatively
impacted by instability in the U.S. federal government. The
company's shipments in its Surveillance, Thermal Vision and
Measurement segments were negatively affected by the government's
extension of procurement and export licensing processes. The
company's margins were also impacted by the negative product mix
and low factory absorption in its businesses.
FLIR Systems expects its third-quarter 2013 revenue guidance
to be in the range of $358 million to $360 million, while the
earnings were revised to be the range of 32 cents to 33 cents per
share. The company also lowered its 2013 revenue guidance from
the previous $1.5 billion-$1.6 billion to $1.45 billion-$1.5
billion and the earnings were reduced to $1.38-$1.43 from the
prior range of $1.56-$1.66 per share.
FLIR Systems is an Oregon corporation and was incorporated in
1978. It is a leader in design, manufacture and marketing of
thermal imaging systems. Its products are used in a wide variety
of applications in commercial, industrial and government markets,
internationally as well as domestically. It offers a variety of
system configurations to suit specific customer requirements. The
company's business is organized into three divisions: Government
Systems, Commercial Vision Systems and Thermography Products.
Other Stocks to Consider
Some other companies in the industry that are worth
considering at the moment include
Honeywell International Inc.
),all three having a Zacks Rank #2 (Buy).
FLIR SYSTEMS (FLIR): Free Stock Analysis
HEICO CORP (HEI): Free Stock Analysis Report
HONEYWELL INTL (HON): Free Stock Analysis
RAYTHEON CO (RTN): Free Stock Analysis Report
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