UPDATE 2-FLIR Systems Q3 profit beats Street; shares rise

* Q3 EPS $0.38 vs est $0.35

* Q3 rev up 3 pct

* Sees 2009 EPS to be at or above $1.40 to $1.44

* Shares up 4 percent (Adds conference call comments, share movement)

Oct 21 (Reuters) - FLIR Systems Inc (FLIR.O), which makes thermal-imaging products and infrared cameras, reported a better-than-expected quarterly profit on strong sales at its government systems division, sending its shares up 4 percent.

On a conference call with analysts, FLIR said it expects 2009 per-share earnings to be at or above its most recent outlook of $1.40 to $1.44 a share.

"Looking at the rest of the year, we expect seasonal strength in thermography and continued strong delivery in government systems to support a solid Q4," Chief Executive Earl Lewis said on the call.

Though FLIR expects its fourth-quarter orders to be seasonally lower than the third quarter, it still sees flat revenue in 2010, Lewis said.

"We remain very bullish on the long-term prospects for infrared systems and military applications, and look forward to expanding our current markets while entering new markets and new applications," he said.

For the third quarter, the company earned $60.0 million, or 38 cents a share, compared with earnings of $54.8 million, or 35 cents a share, in the year-ago period.

Revenue rose 3 percent to $285.6 million. Government systems revenue increased 7 percent to $163.0 million.

Analysts on average were expecting earnings of 35 cents a share, before items, on revenue of $281.1 million, according to Thomson Reuters I/B/E/S.

FLIR also said it acquired thermal-imager maker OmniTech Partners Inc for $42 million in cash to add image intensified capability to its product line.

The transaction is expected to be immaterial to FLIR's earnings in 2009 and 2010, the company said in a statement.

Shares of FLIR Systems, which have gained more than 25 percent of their value in the last three months, were up 4 percent at $30.00 in midday trade Wednesday on Nasdaq. (Reporting by Bijoy Koyitty in Bangalore; Editing by Ratul Ray Chaudhuri)