Flir publishers second quarter results

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Flir has published its second quarter results for the three months ending 30 June, with revenue at $390m, up 18 per cent compared to the same period the previous year. Operating income in the second quarter was $41.7m, compared to $89.8m in the second quarter of 2010, and was impacted by a previously announced litigation settlement and related expenses, as well as delayed government procurement. Second quarter 2011 net income was $29.3m, or $0.18 per diluted share, compared with net income of $59.5m, or $0.37 per diluted share in the second quarter a year ago. Excluding the net after tax impact of the litigation settlement and related expenses, second quarter 2011 net income was $57.2m, or $0.35 per diluted share.

Revenue from the Company's Commercial Systems division increased 32 per cent from the second quarter of 2010, to $215m. Within the Commercial Systems division, revenue from the Thermal Vision and Measurement segment was $164.8m, an increase of 21 per cent over the second quarter combined results of Thermography and CVS last year. Commercial Systems' Raymarine segment contributed $50.2m of revenue during the quarter.

FLIR has also announced that it has acquired Aerius Photonics, a provider of short-wavelength infrared (SWIR) detectors and advanced laser components, for $27m in cash. Aerius Photonics, based in Ventura, California, specialises in the design, development, and manufacture of high-sensitivity photonic components for use in various applications in the commercial and military markets. Products include indium gallium arsenide (InGaAs)-based infrared detectors, high-powered vertical-cavity surface-emitting laser (VCSEL) diodes, ultra-lightweight laser rangefinders and altimeters, and infrared illuminators and pointers.