Flir's 1st-quarter profit jumps 49 pct on sales

Flir Systems Inc., which makes infrared imaging cameras for commercial and military use, said Friday its fourth-quarter profit rose 49 percent on higher sales, and reaffirmed its 2009 profit outlook.

Earnings increased to $54.3 million, or 35 cents per share, compared with $36.5 million, or 24 cents per share in the same period last year.

The latest results handily beat Wall Street's profit prediction of 30 cents per share.

Revenue rose 15 percent to $272 million led by its government systems division, but still fell short of Wall Street's forecast of $277.1 million. The segment saw sales rise 43 percent because of demand for airborne applications.

Flir's backlog increased 31 percent from the prior year totaling $617 million.

Since the end of the quarter, Flir said it has received orders for specialized cameras from customers to detect fevers to help contain the recent outbreak of swine flu. While orders have been modest, there is potential for more in the second quarter and beyond.

The company reaffirmed its 2009 profit outlook in a range of $1.40 per share to $1.47 per share with revenue between $1.2 billion and $1.25 billion.

Analysts polled by Thomson Reuters anticipate a profit of $1.44 per share on revenue of $1.24 billion.

Shares of Flir added $3, or 13.5 percent, to $25.18 in late afternoon trading.