Flir Systems: First Quarter 2009

Flir Systems announced financial results for the first quarter ended March 31, 2009. Revenue was $ 272.0 million, up 15 % compared to first quarter 2008 revenue of $ 236.9 million. Operating income in the quarter was $ 83.4 million, up 51 % from $ 55.1 million in the first quarter of 2008. First quarter 2009 net income was $ 54.3 million, or $ 0.35 per diluted share, compared with net income of $ 36.5 million, or $ 0.24 per diluted share, in the first quarter a year ago. Cash provided by operations during the quarter was $ 74.3 million. Revenue from the company‘s government systems division increased 43 % over the first quarter of 2008, to $ 162.2 million. Revenue from the company‘s commercial vision systems division increased 5 % over the first quarter of last year, to $ 45.9 million, revenue from the company‘s thermography division decreased 20 % from the first quarter of last year, to $ 63.9 million.