The Future for Flir Systems

Two weeks ago, Investors Business Daily took a lot at Flir Systems (FLIR) and its plans for the future:

“Visibility hasn’t been much of a problem for a leader in technology that makes it easy to see in the dark.

“Revenue has been growing rapidly at Portland, Ore.-based Flir Systems (FLIR), which makes products based on infrared technology.

“More than half of it comes from defense customers for such things as night-vision goggles for troops, and sensor and camera systems to spot opponents from land, air and sea.

“The rest comes from commercial and industrial customers, also growing in the double digits.

“But some observers are concerned they aren’t able to see clearly when it comes to figuring Flir’s future.

“The reason centers on the uncertainty in the economy and in defense spending under a new Democratic administration.

“A little weakness was seen in third-quarter domestic sales in commercial systems and thermal imaging categories, but not so much that those results didn’t rise more than 30% from the earlier year.

“And the high-margin defense business kept cranking, up almost 57% from the same period in 2007, to $151.7 million.

“Total sales in the quarter rose 44.8% to $276.7 million, while profit climbed 52% to 35 cents a share.”

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