PORTLAND, Ore.—Flir Systems Inc., which makes thermal-imaging and threat-detection systems, said Thursday that weak demand in its government-systems division weighed on its second-quarter results.
The company said that it expects to post second-quarter earnings, excluding one-time items, of 35 cents per share, which is below Wall Street's expectations of 37 cents per share.
Flir's shares dropped sharply in after-hours trading following the announcement.
The company is forecasting revenue of $390 million for the three months ended June 30. Analysts were expecting revenue of $409.9 million, according to a poll by FactSet.
Flir said it is evaluating its guidance for the full year. In February, the company said it expects 2011 revenue of $1.63 billion to $1.73 billion, with net income of $1.65 to $1.75 per share. Analysts are expecting earnings of $1.70 per share on revenue of $1.7 billion.
The company plans to report its second-quarter results on July 22.
Shares of Flir fell $2.63, or 8.2 percent, to $29.48 in after-hours trading.
