FLIR, parent of Raymarine, today reported third-quarter sales of US$64.7m, up 15% over the same quarter a year ago. Net income rose to US$64.5m from US$58.6m a year ago.
Sales in FLIR’s Maritime segment, which includes Raymarine, was up 4% to US$42.3m. Its Surveillance segment’s revenues were up 8% to US$146.8m, while its Instruments segment rose 11% to US$91.4m. Its Security segment had sales of US$65.7m, up 16%, while its OEM and Emerging Markets segment’s sales were up 39% to US$87.2m. Its Detection segment was up 19% to US$31.4m.
The company said its backlog of firm orders for the next 12 months was about US$709m, up 10% during the quarter.
"Bookings in the quarter drove our backlog to its highest level in our history,” said Jim Cannon, president and CEO, in a statement. “This positions us well as we realign our businesses and deploy The FLIR Method for continuous business improvement, initiatives that we expect to drive organic growth, increase profitability, and generate ample cash."
The company forecasts that 2017 sales will be in the range of US$1.775bn to $1.825bn and adjusted net earnings in the range of US$1.83 to US$1.88 per diluted share.