UPDATE 2-FLIR Systems Q1 profit beats Street, shares rise

venerdì 1 maggio 2009 21:18

* Q1 EPS $0.35 vs $0.24 year ago

* Revenue up 15 pct

* Shares rise 14 percent (Recasts, adds details, analyst comment)

By Bhaswati Mukhopadhyay

BANGALORE, May 1 (Reuters) - FLIR Systems Inc (FLIR.O: Quotazione), which makes thermal-imaging products and infra-red cameras, reported a better-than-expected quarterly profit, helped mainly by strong sales at its government systems division, and reaffirmed its 2009 outlook, sending its shares up 14 percent.

For 2009, the company still sees earnings of $1.40 to $1.47 a share, on revenue of $1.20 billion to $1.25 billion.

Analysts on average were expecting earnings of $1.44 a share, before special items, on revenue of $1.24 billion, according to Reuters Estimates.

FLIR, which experienced weak demand in the United States, said its Asian and Western Europe markets were strong during the first quarter.

The growth in these international markets will help offset the slowdown in the domestic market for FLIR, analyst Antonio Antezano of Macquarie Research said.   Continua...