FLIR Systems (FLIR) Q3 Earnings Miss Estimates

Incorporated in 1978, FLIR Systems, Inc.FLIR is an Oregon-based corporation, which specializes in designing, manufacturing and marketing of thermal imaging systems. Its products are used in a wide variety of applications in commercial, industrial and government markets, both international and domestic. The company offers a variety of system configurations to suit specific customer requirements.

FLIR's core strength in providing reliable and effective imaging and threat-detection technologies has been bolstering its growth momentum. This apart, the company's "Commercially-Developed, Military Qualified" ("CDMQ") model has been quite popular in government and military markets over the past couple of quarters, and is expected to drive earnings in the to-be-reported quarter as well.

FLIR Systems' financials have been hurting from waning consumer spending and capital investments over the past few quarters. Sluggish economic growth in many of its key markets is expected to add to FLIR Systems' challenges.

FLIR has had a dismal earnings surprise history, having missed estimates in each of the four trailing quarters, for an average negative surprise of 4%.

FLIR SYSTEMS Price and EPS Surprise

FLIR SYSTEMS Price and EPS Surprise | FLIR SYSTEMS Quote

Currently, FLIR has a Zacks Rank #3 (Hold) but that could change following its third-quarter 2016 earnings report which has just released. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

We have highlighted some of the key details from the just-released announcement below:

Earnings: FLIR's adjusted earnings per share came in at 43 cents, missing the Zacks Consensus Estimate of 44 cents by a penny.

Revenue: Revenues of $405.2 million beat the Zacks Consensus Estimate of $402 million by a whisker.

Key Stats: At the end of third-quarter 2016, FLIR's backlog of firm orders for delivery within the next twelve months stood at $644 million, reflecting an increase of 13% from the tally at the end of year-ago quarter. Furthermore, five of the company's six segments registered positive year-over-year growth.

Stock Price: Share prices were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.

Check back for our full write up on this FLIR earnings report later!

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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