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FLIR Systems Inc Reaffirms FY 2013 Guidance; Announces Dividend And Management Succession

Friday, 26 Apr 2013 08:30am EDT 

FLIR Systems Inc reaffirmed its outlook for revenue and earnings per share for fiscal 2013 and expects revenue to be in the range of $1.5 billion to $1.6 billion and net earnings to be in the range of $1.56 to $1.66 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $1.5 billion and EPS of $1.64 for fiscal 2013. The Company also announced that the Board of Directors has declared a quarterly cash dividend of $0.09 per share on FLIR common stock, payable June 7, 2013, to shareholders of record as of close of business on May 20, 2013. Also, Mr. Lewis has announced his intention to retire as President and Chief Executive Officer (CEO) of the Company effective May 19, 2013. He will assume a senior advisor role to the Company to aid in the transition and will remain Chairman of the Board of Directors of FLIR. Mr. Andrew C. Teich, currently President of the Company's Commercial Systems division, will assume the positions of President and CEO of FLIR upon Mr. Lewis's retirement. 

Company Quote

-0.41 -1.19%
31 Jul 2014