FLIR - Why FLIR Systems Stock Tanked Today
Shares of FLIR Systems (NASDAQ: FLIR) have tanked today, down by 18% as of 2 p.m. EST, after the company reported fourth-quarter earnings. The thermal imaging specialist missed expectations for both the top and bottom lines.
Revenue in the fourth quarter came in at $489 million, shy of the consensus estimate that called for $500.7 million in sales. That led to adjusted net income of $74.8 million, or $0.55 per share, compared to the $0.62 per share in adjusted profits that analysts were expecting. Adjusted operating margin took a hit due to "ongoing export compliance expenses" and increased research and development costs.
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