FLIR Systems Plunges 10% After Lowering Guidance
July 14th, 2011
15-Jul-11 15:00 ET Dow -6.36 at 12430.76, Nasdaq +11.48 at 2774.30, S&P +1.25 at 1310.12 The major indices trade mixed as the Nasdaq continues to set the pace with a gain of 0.5%.
Thermal imaging company FLIR Systems (FLIR $28.89, -3.22) is lower by 10% today after issuing downside guidance following yesterday’s closing bell. The company expects to post revenues of approximately $390 million vs. $410.3 million Capital IQ Consensus Estimates and EPS of approximately $0.35, excluding items, versus the $0.39 consensus. Results for the company’s Commercial Systems division remained strong, while continued weak demand in the Government Systems division negatively impacted results for the quarter.
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