FLIR Systems Increases Sales but Misses Estimates on Earnings
FLIR Systems (NAS: FLIR) reported earnings on July 25. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), FLIR Systems beat expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew significantly. GAAP earnings per share expanded significantly.
Gross margins shrank, operating margins contracted, net margins expanded.
FLIR Systems reported revenue of $389.3 million. The 10 analysts polled by S&P Capital IQ foresaw a top line of $364.9 million on the same basis. GAAP reported sales were 15% higher than the prior-year quarter's $338.3 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.35. The 10 earnings estimates compiled by S&P Capital IQ averaged $0.37 per share. GAAP EPS of $0.35 for Q2 were 35% higher than the prior-year quarter's $0.26 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 48.8%, 250 basis points worse than the prior-year quarter. Operating margin was 18.0%, 200 basis points worse than the prior-year quarter. Net margin was 12.9%, 80 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $364.8 million. On the bottom line, the average EPS estimate is $0.40.
Next year's average estimate for revenue is $1.50 billion. The average EPS estimate is $1.64.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 775 members out of 801 rating the stock outperform, and 26 members rating it underperform. Among 150 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 148 give FLIR Systems a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on FLIR Systems is outperform, with an average price target of $29.94.
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The article FLIR Systems Increases Sales but Misses Estimates on Earnings originally appeared on Fool.com.Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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