Welcome to our dedicated page for FLIR news (Ticker: FLIR), a resource for investors and traders seeking the latest updates and insights on FLIR stock.
FLIR Systems, Inc., now part of Teledyne Technologies Incorporated, is a global leader in the design and manufacturing of thermal imaging, infrared cameras, and advanced sensors. Serving a diverse range of industries including defense, industrial, and commercial applications, FLIR aims to enhance perception and awareness through innovative imaging technology.
Founded in 1978, FLIR initially focused on providing infrared imaging systems for airborne applications. Over the years, the company has expanded its capabilities and product offerings to include ground, maritime, and airborne solutions, catering to both military and civilian markets.
FLIR's core business revolves around thermal imaging technology, which is crucial for applications such as surveillance, search and rescue, industrial inspection, and environmental monitoring. The company's products include handheld and fixed thermal cameras, surveillance systems, and advanced sensing solutions. These tools are designed to provide enhanced visibility in various conditions where traditional imaging fails.
Recent achievements highlight FLIR's strong market position and ongoing innovations. The company has introduced cutting-edge products like the FLIR A400/A700 thermal imaging cameras, which offer superior image quality and advanced features for industrial automation. Additionally, FLIR's integration into Teledyne Technologies has opened new avenues for growth and collaboration, strengthening its research and development capabilities.
Financially, FLIR has demonstrated robust performance with consistent revenue growth driven by demand for its diverse product portfolio. Strategic partnerships and collaborations with industry leaders have further bolstered its market presence. For instance, FLIR has collaborated with major automotive manufacturers to integrate thermal imaging into advanced driver-assistance systems (ADAS), enhancing vehicle safety.
FLIR's commitment to innovation is evident in its ongoing projects and product development. The company continuously invests in research and development to push the boundaries of imaging technology. Current projects focus on enhancing the capabilities of thermal and multispectral imaging, improving sensor integration, and developing artificial intelligence-driven solutions to offer smarter and more efficient imaging systems.
FLIR Systems, Inc. remains a pivotal player in the imaging technology market, delivering products and solutions that enhance safety, efficiency, and awareness across various sectors. As part of Teledyne Technologies, FLIR continues to drive innovation and expand its market reach, ensuring it remains at the forefront of thermal imaging and sensor technology.
FLIR and UE Systems have announced a strategic business and technology partnership focused on offering advanced ultrasonic imaging solutions for industrial customers.
The collaboration will leverage FLIR's thermal imaging expertise and UE Systems' ultrasonic maintenance programs to deliver comprehensive conditions monitoring and predictive maintenance solutions with a strong emphasis on energy conservation.
The partnership begins with the introduction of the FLIR Si2-Series acoustic imaging cameras, including models Si2-Pro, Si2-LD, and Si2-PD, aimed at detecting partial discharges, pressurized leaks, and mechanical faults in manufacturing, utility, and processing industries.
Both companies anticipate exploring further collaboration opportunities to enhance industrial maintenance and reliability programs globally.
Teledyne FLIR praises the NHTSA for mandating pedestrian automatic emergency braking on passenger vehicles by 2029. Thermal infrared cameras can improve safety by detecting pedestrians at night and in low visibility, reducing false positives and enhancing reliability.
FLIR Systems announced over $70 million in new orders for its ground robots from the U.S. Armed Services, including nearly 600 Centaur® robots. The U.S. Army also increased a contract for the Man Transportable Robot System Increment II by $31.6 million, raising its value to $190 million. Since 2017, Centaur has been chosen for military programs, with orders surpassing $170 million for over 1,300 robots since early last year. Deliveries are set to begin in Q3 2021, highlighting the growing demand for the Centaur robot in Explosive Ordnance Disposal operations.
FLIR Systems reported Q1 2021 revenue of $467.3 million, a 3.6% increase from $450.9 million last year. Core Industrial Technologies saw a 0.6% decrease in revenue, while Defense Technologies rose by 10.3%. The company achieved a book-to-bill ratio of 1.04 with total bookings of $484.5 million. Adjusted diluted EPS grew by 16.7% to $0.49. Gross margin declined to 44.8% from 48.6% due to lower margin programs. FLIR is progressing on its merger with Teledyne, with stockholder meetings scheduled for May 13. A quarterly dividend of $0.17 per share was declared, payable June 4.
FLIR Systems, Inc. (NASDAQ: FLIR) has secured a $15.4 million contract to supply its Black Hornet® 3 Personal Reconnaissance Systems to the U.S. Army. This follows previous orders amounting to over $85 million since 2018 for these advanced nano-UAVs, enhancing surveillance as part of the Army's Soldier Borne Sensor program. The Black Hornet is designed for operations in contested environments, offering live video and HD imagery, and has been delivered to various defense forces worldwide. Deliveries for this latest order are set to begin in mid-2021.
FLIR Systems, Inc. (NASDAQ: FLIR) will announce its first-quarter financial results for the period ending March 31, 2021, on May 6, 2021, at 7:30 a.m. Eastern Time. This quarter, the company will not hold an earnings call, but summary financial data, along with business segment details, will be made available online post-release. Investors can access this information on the company's Investor Relations website at www.FLIR.com/investor.
Teledyne Technologies (NYSE: TDY) has announced the SEC's effective declaration of the Form S-4 Registration Statement for its acquisition of FLIR Systems (NASDAQ: FLIR). Scheduled special meetings for stockholder approvals will take place on May 13, 2021. Teledyne has received antitrust clearances from regulatory authorities in Poland, South Korea, Germany, Canada, and the U.S. The acquisition's financing, totaling $3 billion in bonds and $1 billion in a term loan, was completed on March 22, 2021. The deal is expected to finalize in Q2 2021, pending approvals from Turkey and China.
FLIR Systems has secured an $11.2 million contract with DARPA to create innovative fabrics that combat chemical and biological threats. This initiative, part of the Personalized Protective Biosystems (PPB) program, aims to reduce the weight of personal protective equipment for military and medical personnel. The potential value of the contract could reach $20.5 million over five years, with work conducted at FLIR's Pittsburgh facilities. The project focuses on developing lightweight protective materials designed to enhance the safety and efficiency of users in high-risk environments.
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