Key Developments: FLIR Systems Inc (FLIR.O)
24.15USD
24 May 2013
$-0.09 (-0.37%)
$24.24
$24.07
$24.17
$23.93
1,605,422
--
--
--
Latest Key Developments (Source: Significant Developments)
FLIR Systems Inc Announces $23 Million Order To Support U.S. Coast Guard
FLIR Systems Inc announced that it has received an order to support the U.S. Coast Guard valued at $23 million. The order is for the Coast Guard's Electro-Optical Sensor System (ESS) configuration of FLIR's commercially developed military qualified Talon 9-inch stabilized multi-sensor gimbal system. The ESS systems will be deployed on the Coast Guard's H-60 and H-65 helicopters. Work under this order is expected to be performed out of FLIR's facility in Billerica, MA, with shipments expected to be completed by the end of the year. Full Article
FLIR Systems Inc Reaffirms FY 2013 Guidance; Announces Dividend And Management Succession
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. Full Article
FLIR Systems Inc To Be Part Of Team Providing Aircraft, Training, And Support For U.S. Air Force Light Air Support Mission
FLIR Systems Inc announced that it is part of the supplier network selected by the U.S. Air Force under its recently awarded Light Air Support (LAS) contract. On February 28, 2013, the U.S. Air Force announced the selection of Sierra Nevada Corporation to supply aircraft for use by the Afghanistan National Army Air Corps and other future customers. The aircraft that will be provided is the Embraer A-29 Tucano. The aircraft will be used to conduct flight training, aerial reconnaissance, and light air support operations and is a key element of U.S. government partner-building efforts in Afghanistan and other partner nations. Full Article
FLIR Systems Inc Issues FY 2013 Guidance; EPS Guidance Above Analysts' Estimates
FLIR Systems Inc announced that for fiscal 2013, it 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 (EPS). 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 $1.55 for fiscal 2013. Full Article
FLIR Systems Inc Decalres Quarterly Cash Dividend; Approves Share Repurchase Program
FLIR Systems Inc announced that Board of Directors has approved a quarterly cash dividend of $0.09 per share on FLIR common stock, an increase of 29% over the previous paid quarterly dividend of $0.07 per share. The Board of Directors has declared the dividend payable March 8, 2013, to shareholders of record as of close of business on February 19, 2013. The Board of Directors also approved a new share repurchase program that authorizes up to 25 million shares to be repurchased over the next two years, replacing the previous program that expires on February 9, 2013. This authorization represents approximately 17% of FLIR's outstanding common stock as of December 31, 2012. Full Article
FLIR Systems Inc Secures Contract Valued at $12.5 Million to Support Brazilian Government
FLIR Systems Inc announced that it has been awarded a contract from Brazil's Special Secretariat for the Security of Major Events (SESGE) valued at $12.5 million for StarSAFIRE 380 HD and StarSAFIRE 230 HD Systems. These StarSAFIRE advanced imaging systems will primarily be used to support the security plan for the 2014 World Cup and 2016 Olympics sporting events as developed by the SESGE, a commission set up by the Brazilian federal government under the Ministry of Justice, which includes a mission to provide airborne surveillance. Full Article
FLIR Systems Inc Announces Acquisition Of Traficon International For $46 Million
FLIR Systems Inc announced that it has acquired the stock of Traficon International NV, a video detection technologies for traffic applications, for approximately $46 million in cash. Traficon, based in Wevelgem, Belgium, is a global leader in video image processing software and hardware for traffic analysis. Traficon produces intelligent technology that makes traffic safer and more efficient through solutions for automatic incident detection, traffic data collection, and intersection vehicle and pedestrian presence detection. Traficon has more than 25 years of proven field experience and more than 80,000 video-based transportation control and monitoring systems operational worldwide. FLIR anticipates this transaction will be neutral to 2013 net earnings and accretive thereafter. Full Article
FLIR Systems Inc Completes Acquisition of LOREX Technology Inc for $60 Million
FLIR Systems Inc announced that it has completed its previously announced acquisition of Lorex Technology Inc. for $1.32 per share, representing an aggregate purchase price of $60 million. On October 25, 2012, FLIR announced it had entered into an agreement to acquire Lorex subject to certain conditions. The transaction was completed by a FLIR subsidiary purchasing all the outstanding shares of Lorex followed by the amalgamation of that purchasing subsidiary with Lorex, resulting in Lorex becoming a wholly-owned subsidiary of FLIR. The acquisition was completed upon receipt of final court approval from the Ontario Superior Court of Justice (Commercial List) of the proposed plan of arrangement. The plan of arrangement was approved by Lorex's shareholders at the special meeting of shareholders held on December 13, 2012. Full Article
LOREX Technology Inc Receives Final Court Approval For Plan Of Arrangement With FLIR Systems Inc
LOREX Technology Inc (LOREX) announced that it has obtained final court approval from the Ontario Superior Court of Justice (Commercial List) of the previously announced proposed plan of arrangement (the Arrangement), pursuant to which FLIR Systems Inc. will acquire all the issued and outstanding common shares of LOREX. The Arrangement was approved by LOREX's shareholders at the special meeting of shareholders held on December 13, 2012. The Arrangement is expected to close on December 20, 2012. Terms of the transaction were not disclosed. Full Article
FLIR Systems Inc Updates On FY 2012 Revenue Gudiance-Conference Call
FLIR Systems Inc announced that for fiscal 2012, it expects revenue to be about $1.4 billion. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $1.42 billion for fiscal 2012. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
