FLIR announces earnings decline; Government Systems division weakest

25 October 2013

FLIR Systems reported on 24 October that Q3 2013 revenues climbed 8% to USD358.1 million while earnings decreased by 17% to USD46.5 million.

Revenue from FLIR's Commercial Systems division increased 17% from the third quarter of 2012 to USD212.9 million.

Meanwhile, revenue from FLIR's Government Systems division decreased 4% from the third quarter of 2012 to USD145.2 million. Within the division, revenue from the Surveillance segment was USD103 million, a decrease of 11% from Q3 2012. Revenue from the Detection segment was USD13.1 million, a decrease of 15% compared with the third quarter of 2012 as the business continues its strategy to reduce contract R&D activity.

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