Wilsonville, OR-based thermal image maker, FLIR Systems, Inc. FLIR recently unveiled a camera lineup at CES 2017, an eventful consumer electronics and technology trade show frequented by tech biggies to introduce latest offerings. The company launched five new thermal imaging cameras, including two third generation FLIR ONE thermal camera attachments for smartphones, two dual sensor thermal cameras for drones and another one for home and building inspectors.
These new devices leverage on the company’s exclusive Lepton technology, microcamera core and multispectral dynamic imaging technology, allowing them to deliver solid performance across multiple applications.
FLIR Systems remains optimistic that the rising popularity of low-cost thermal imaging applications in consumer and small business applications will result in impressive traction of the products. Encouragingly, shares of the company have had an impressive run over the past six months, returning almost triple of the Zacks categorized Electronics-Military Systems industry average. The company yielded 16.8% over the same time frame.
It should be noted that brokers are on the sidelines for the Zacks Rank #3 (Hold) stock as its earnings estimates remained unchanged over the past 30 days. The Zacks Consensus Estimate for full-year 2016 remained unchanged at $1.61 over the same time frame.
Product Details
An entry-level thermal camera – the third generation FLIR ONE Smartphone Camera Attachments – can connect to both iOS and Android devices, and has been reasonably priced at $199.99. The other offering in this group – FLIR ONE Pro – has been engineered for professional thermal imaging needs and is priced higher, at $399.99. Other notable features of FLIR ONE Pro include multiple spot temperature meters and one-touch reporting capabilities for quicker sharing of results. Both the cameras will be available in the first half of 2017.
FLIR Systems’ drone compatible thermal cameras, also introduced at the event, include FLIR Duo and FLIR Duo R. The FLIR Duo is a high-definition 1080p visible camera, ideal for onboard recording and can be mounted to any airframe like most other action cameras. It has been priced at $999.99. The other camera in this space – FLIR Duo R – will come with a slightly heftier price tag of $1,299.99 and can be used for temperature measurement for a gamut of commercial applications, ranging from agriculture to public safety use cases.
Finally, the brand new pocket-portable FLIR C3 Thermal Camera will be particularly useful for professionals, such as real estate professionals, general contractors, and others. This device, which can seamlessly locate hidden electrical, energy efficiency, or moisture issues, will cost $699.99. The FLIR C3 Thermal Camera’s intriguing features, including a three-inch touch screen, Wi-Fi connectivity and new picture-in-picture function, are sure to appeal users.
Our Take
FLIR Systems’ core strength of providing reliable and effective imaging & threat-detection technologies is expected to bolster its growth. Increased adoption of thermal imaging in a broad spectrum of applications, ranging from military to personal hand-held cameras and smartphones, continue to fuel growth in this market. Moreover, cost-effective and easy deployment features of these cameras, along with consistent price slashes, are adding to the growth.
FLIR Systems remains strongly committed toward the introduction of innovative products to expand its customer base and fortify its foothold in new markets. Of late, the company has been focusing on using its exclusive Lepton and Infrared Guided Measurement technology to grab a greater market share in the Instruments segment. Going forward, we expect steady market traction of these products to help the company drive top-line growth in the respective segments.
Stocks to Consider
Better-ranked stocks in the broader sector include Arotech Corp. ARTX, Northrop Grumman Corp. NOC and Engility Holdings, Inc. EGL. All three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Arotech Corporation makes zinc-air batteries for military and homeland security applications. It also provides advanced high-tech multimedia training systems for law enforcement and paramilitary organizations. The company has beat earnings twice in the past four quarters and has a whopping average positive surprise of 256.3%.
Falls Church, VA-based Northrop Grumman Corp. supplies a broad array of products and services to the U.S. Department of Defense (DoD). The company has managed to beat earnings each time in the trailing four quarters, boasting an average surprise of 8.3%.
Engility Holdings is engaged in providing government services in engineering, professional support and mission support to customers in the U.S. Department of Defense, Federal civilian agencies and allied foreign governments. The company has a striking earnings surprise history over the trailing four quarters, beating estimates all through. It boasts an average positive surprise of 23.2%.
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