FLIR Systems estimates second-quarter below expectations
(Reuters) - Surveillance products maker FLIR Systems Inc (FLIR.O) estimated its second-quarter earnings to be below market expectations, hurt by weaker demand for several products, particularly in Europe.
"Delays in customer delivery schedules negatively impacted revenue during the quarter, particularly in the cores and components line of products in the thermal vision and measurement segment," Chief Executive Earl Lewis said.
The company, which makes thermal-imaging products and infrared cameras, expects adjusted earnings of 30 cents per share on revenue of $338 million.
Analysts were expecting earnings of 36 cents a share on revenue of $380.1 million, according to Thomson Reuters I/B/E/S.
The Portland, Oregon-based company also cut its 2012 earnings outlook to $1.40 to $1.50 per share, from its prior forecast of $1.60 to $1.70 per share.
It now expects full-year revenue of between $1.4 billion and $1.5 billion, down from its previous forecast of $1.55 billion to $1.65 billion.
Shares of the company closed at $18.33 on Monday on the Nasdaq.
(Reporting by Megha Mandavia in Bangalore; Editing by Maju Samuel)
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