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Infrared imaging company Flir Systems Inc. projected aggressive revenue growth for 2004 last week, driving its stock price up past $40.
Flir (Nasdaq: FLIR) split its stock in May last year, when it soared above $56 per share. Immediately after the split, Flir traded at about $28.50, and traded between $25 and $30 for most of the rest of 2003.
Projections of 2004 revenue growth in the 36 percent to 39 percent range, to a target range of $425 million to $435 million, excited investors, despite guidance that indicated earnings will not rise as quickly as revenue. Flir said that 2004 earnings will come in between $1.50 and $1.60 per share, an increase of between 18 percent and 26 percent, on a per-share basis.
Portland-based Flir's 2003...