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.
Teledyne Technologies (NYSE: TDY) announced key financing milestones for its pending acquisition of FLIR Systems (NASDAQ: FLIR). The company priced a $3.0 billion note offering, with various maturities ranging from 2023 to 2031. Additionally, Teledyne secured a $1 billion Term Loan Credit Agreement. Proceeds will fund the cash portion of the FLIR acquisition and refinance existing debt. After clearing the HSR antitrust review on March 1, 2021, the transaction is subject to regulatory approvals and expected to close mid-2021.
FLIR Systems reported a 4Q 2020 revenue of $524.3 million, a 7% increase year-over-year. The full-year revenue reached $1,924 million, up from $1,877 million. GAAP diluted EPS surged to $0.57 from $0.01, reflecting strong operational performance despite the pandemic. The company reported a gross margin of 49.2% for the full year. Significant developments include the acquisition of Altavian and the upcoming merger with Teledyne. FLIR also announced a quarterly cash dividend of $0.17 per share for shareholders.
FLIR Systems, Inc. (NASDAQ: FLIR) will announce its financial results for the fourth quarter and full year ending December 31, 2020, on February 25, 2021, at 7:30 a.m. Eastern Time. The financial data will include details on business segments and will be available on their Investor Relations website. Founded in 1978, FLIR is a leader in intelligent sensing technologies aimed at defense and industrial applications, with a vision of making better decisions that save lives and improve livelihoods.
FLIR Systems announced a $30.1 million contract from the U.S. Army, boosting the total value of its existing contract to $88 million. This contract focuses on sustainment for the Army's Man Transportable Robotic System Increment II (MTRS Inc. II) and Common Robotic System-Heavy (CRS-H) programs, part of FLIR's unmanned ground systems portfolio. The company has previously secured multiple orders totaling nearly $100 million for its Centaur robotic systems from various military branches, enhancing its position in defense technology.
Teledyne Technologies (NYSE:TDY) has agreed to acquire FLIR Systems (NASDAQ:FLIR) for approximately $8 billion in a cash and stock deal. FLIR stockholders will receive $28 per share in cash plus 0.0718 Teledyne shares, valuing FLIR shares at $56 each—a 40% premium based on recent trading. Teledyne plans to fund the acquisition with a $4.5 billion credit commitment and expects the deal to be accretive to earnings immediately, excluding transaction costs. The merger is set to close mid-2021, pending shareholder and regulatory approvals.
FLIR Systems, Inc. (NASDAQ: FLIR) has unveiled Raymarine YachtSense™, a state-of-the-art digital control system designed for comprehensive management of a vessel's electrical systems. This modular system allows boat builders to create highly tailored automation solutions, enhancing reliability and usability. The YachtSense platform incorporates features like three levels of electrical redundancy and rugged waterproof enclosures, ensuring durability. The launch coincides with the METSTRADE Connect online event, where further details will be provided to interested boat builders and integrators.
FLIR Systems, Inc. (NASDAQ: FLIR) will participate in upcoming investor conferences, including the Credit Suisse 8th Annual Global Industrials Conference from December 2-4, 2020, where CEO Jim Cannon and CFO Carol Lowe will present on December 4 at 10:10 a.m. ET. They will also attend the Truist 2020 Industrials and Services Summit on December 8, 2020, for additional investor meetings. The Credit Suisse presentation will be available via live webcast on FLIR's Investor Relations website, with registration recommended 15 minutes prior to the event.
FLIR Systems has secured an order exceeding $32 million for more than 250 Centaur unmanned ground vehicles (UGVs) from the U.S. Army, Air Force, and Navy. This is part of the Army’s MTRS Inc. II program.
In the past year, FLIR has garnered approximately $97 million in orders for over 750 Centaur systems, which are designed to assist Explosive Ordnance Disposal (EOD) teams in hazardous tasks. The Centaur UGV, weighing about 160 pounds, features an advanced EO/IR camera suite and modular payloads for various missions.
FLIR Systems, Inc. (NASDAQ: FLIR) will present at the Baird 2020 Global Industrial Conference on November 10, 2020, at 3:10 p.m. Eastern Time. Jim Cannon, CEO, and Carol Lowe, CFO, will represent the company. The presentation will be accessible via a webcast on the Company's Investor Relations website, with a replay available shortly after. Established in 1978, FLIR focuses on intelligent sensing solutions for defense and industrial applications, aiming to help professionals make informed decisions.
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