S&P 500 (NYSE:SPY) component FLIR Systems, Inc. (NASDAQ:FLIR) will unveil its latest earnings on Monday, July 18, 2011. FLIR Systems, Inc. designs and manufactures thermal imaging systems used for a variety of applications in commercial, industrial and government markets across the globe.
FLIR Systems, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for profit of 38 cents per share, a decline of 2.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 40 cents. Between one and three months ago, the average estimate moved down, but it has been unchanged at 38 cents during the last month. For the year, analysts are projecting net income of $1.71 per share, a rise of 9.6% from last year.
Past Earnings Performance: The company is hoping to beat estimates after missing the mark for two straight quarters. Last quarter, it reported profit of 32 cents per share against an estimate of net income of 35 cents per share. The quarter before that, it missed forecasts by one cent.
Wall St. Revenue Expectations: On average, analysts predict $410.8 million in revenue this quarter, a rise of 24.1% from the year ago quarter. Analysts are forecasting total revenue of $1.7 billion for the year, a rise of 22.3% from last year’s revenue of $1.39 billion.
Analyst Ratings: Analysts are bullish on this stock with eight analysts rating it as a buy, none rating it as a sell and six rating it as a hold.
The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 26.2%, with the biggest boost coming in the fourth quarter of the last fiscal year when revenue rose 39.4% from the year earlier quarter.
The decrease in profit in the first quarter breaks a streak of three consecutive quarters of year-over-year profit increases. Net income fell 8.2% in the first quarter from the year earlier, while the figure rose 15.9% in the fourth quarter of the last fiscal year, 4.9% in the third quarter of the last fiscal year and 6.8% in the second quarter of the last fiscal year.
The company’s gross margin shrank by 5.2 percentage points in the in the first quarter. Revenue rose 30% while cost of sales rose 45.8% to $177.8 million from a year earlier.
Competitors to Watch: L-3 Communications Hldgs., Inc. (NYSE:LLL), General Dynamics Corp. (NYSE:GD), Raytheon Company (NYSE:RTN), Irvine Sensors Corporation (IRSN), Elbit Systems Ltd. (NASDAQ:ESLT), Herley Industries, Inc. (NASDAQ:HRLY), Cubic Corporation (NYSE:CUB), Anaren, Inc. (NASDAQ:ANEN), and Tel-Instrument Electronics Corp. (AMEX:TIK).
Stock Price Performance: During May 13, 2011 to July 12, 2011, the stock price had fallen $3.38 (-9.4%) from $36.05 to $32.67. The stock price saw one of its best stretches over the last year between August 4, 2010, and August 13, 2010, when shares rose for eight-straight days, rising 13.7% (+$3.68) over that span. It saw one of its worst periods between October 22, 2010, and October 29, 2010, when shares fell for six-straight days, falling 5.1% (-$1.42) over that span. Shares are up $3.02 (+10.2%) year to date.
(Source: Xignite Financials)
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