FLIR Surveillance Sales Jump 10 Per Cent, Security 21 Per Cent
REVENUE from the FLIR’s Surveillance segment was $US124.2 million, an increase of 10 per cent from the first quarter results last year, while the Security segment recorded revenue of $47.1 million in Q1, up 21 per cent from the prior year.
Overall first quarter 2016 revenue was $379.5 million, also up 10 per cent compared to first quarter 2015 revenue of $344.5 million. On a constant currency basis, first quarter 2016 revenue was up 12 percent versus the prior year. Operating income in the first quarter was $57.4 million, compared to $65.8 million in the first quarter of 2015. Profitability in comparison to the prior year was negatively impacted by product mix shifts, higher production costs, and unusually low corporate expenses in the prior year.
"We are pleased with the growth we saw in revenue and backlog in the first quarter. Strength in our government businesses drove our backlog to its highest level since 2008," said Andy Teich, President and CEO of FLIR. "Our product development engine continues to deliver innovative solutions for improving overall safety, security, operational efficiency, and environmental protection.”
FLIR is distributed in Australia by QSS. ♦