FLIR Systems (FLIR) Launches Thermal Camera Development Kit

FLIR Systems, Inc. (NASDAQ:FLIR) recently came up with the high-resolution Thermal Vision Automotive Development Kit (ADK), allowing developers to add an affordable long-range thermal camera to their advanced driver assistance systems (ADAS) development vehicles. The company informed that the ADK will be demonstrated on the NVIDIA (NASDAQ:NVDA) DRIVE PX2 at CES 2018 in the FLIR booth at the Las Vegas Convention Center.

The FLIR ADK comes with a thermal and high-definition visible camera, equipped with an Intel (NASDAQ:INTC) Movidius Myriad 2 Vision Processing Unit that fits within a compact footprint package. Moreover, the ADK is compatible with the NVIDIA DRIVE autonomous vehicle computing platform. The company’s latest high-resolution ADK will enable automakers to develop as well as integrate thermal imaging technology in self-driving cars faster, easier and with low ownership cost.

Existing Business Scenario

FLIR Systems’ core strength of providing reliable and effective imaging & threat-detection technologies is expected to bolster growth going forward. 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. Notably, shares of the company have yielded 38.9% in the past six months, outperforming the industry’s average growth of 22.5%.

The company also remains strongly committed toward introduction of innovative products to expand customer base and enhance foothold in new markets. For instance, during the reported quarter, the company rolled out three thermal imaging-equipped test and measurement products, Lepton microcamera thermal core and Infrared Guided Measurement. Going forward, we expect steady market traction of these products to help the company drive revenue growth in the respective segments.

Moreover, the company’s solid execution and streamlined business has helped it drive solid improvements in backlog, operating margin, and net income in the past few quarters. Further, the company’s streamlined operations is anticipated to augment agility, drive solid improvements in backlog, operating margin, net income as well as earnings per share.

This apart, the Zacks Rank #2 (Buy) company’s government and military business has also been faring well over the past few quarters driven by its CDMQ model. Using the model, the company has been able to combat softness in cyclical spending associated with government markets. Going forward, the company anticipates CDMQ model to improve the prospects of government business.

Other Stocks to Consider

Some other top-ranked stocks from the same space include Comtech Telecommunications Corp. (NASDAQ:CMTL) , Curtiss-Wright Corporation (NYSE:CW) and DXC Technology Company. (NYSE:DXC) . While Comtech Telecommunications sports a Zacks Rank #1 (Strong Buy), Curtiss-Wright and DXC Technology carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

Comtech Telecommunications has surpassed estimates in the trailing four quarters, with an average positive earnings surprise of 88.7%.

Curtiss-Wright has outpaced estimates in the preceding four quarters, with an average earnings surprise of 11.8%.

DXC Technology has surpassed estimates in the preceding four quarters, with an average positive earnings surprise of 25.4%.

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