FLIR Systems, the parent company of Raymarine, today announced a drop in revenue for the fourth quarter, but an increase in revenue for the full fiscal year.
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Revenue for the quarter, which ended Dec. 31, was $405.2 million, down 7 percent, compared with fourth-quarter 2010 revenue of $437.5 million. Operating income in the fourth quarter was $109.7 million, up 9 percent, compared with $100.4 million in the fourth quarter of 2010. Net income for the quarter was $76.1 million, or 48 cents a diluted share, compared with $69.8 million, or 43 cents a diluted share, a year earlier.
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