FLIR System (FLIR) Poised For Growth

FLIR System (NASDAQ: FLIR) made a few announcements after the close of the markets. It announced the planned retirement of its thermography business head, Arne Almefors.

According to a report released by William Blair & Company, such change in the leadership is not likely to have any major impact on the business and the firm. Andy Teich, the current division head in charge of Commercial Vision Systems will be given the additional responsibility of thermography division.

FLIR is likely to start reporting both thermography and CVS as a single unit. This step would be taken mainly due to financial reporting requirements. The report has further stated that the firm is not expected to take any cost-cutting measures in the near future. FLIR system expects both its business units to experience significant growth. FLIR is currently trading at 20X FY2010EPS which represents lower end of historic multiple rates. Therefore FLIR System is an attractive buy.