FLIR Systems
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| Traded as |
NASDAQ: FLIR S&P 500 Component |
| Industry | Imaging technology, defense, security, law enforcement, thermography |
| Founded | 1978 |
| Headquarters |
Wilsonville, Oregon United States 45°19′14″N 122°45′53″W / 45.32065°N 122.7647°WCoordinates: 45°19′14″N 122°45′53″W / 45.32065°N 122.7647°W |
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Key people
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Andrew C. Teich President & (CEO) Amit Singhi (CFO) |
| Products | Thermal imaging, infrared |
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| Total assets |
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| Total equity |
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Number of employees
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2,800 (December 31, 2014) |
| Website | www |
US$ 1,530M (2014) 
US$ 241M (2013)FLIR Systems is the world's largest commercial company specializing in the design and production of thermal imaging cameras, components and imaging sensors. Based in Wilsonville, Oregon, United States, and founded in 1978. The company makes thermal cameras and components for a wide variety of commercial and government applications. FLIR is a component of the S&P 500 index with annual revenues in excess of $1.5 billion annually as of 2014. In the spring of 2013, Andrew C. Teich became FLIR's chief executive officer and president after the retirement of Earl Lewis. FLIR employs 2,741 people worldwide.
FLIR took its name from the acronym for forward-looking Infrared. The company began in 1978 with airborne IR systems, and developed from 1978 to 2004 through product development and acquisitions of related companies. Originally based in Tigard, Oregon, the company relocated to Portland in the mid-1990s. FLIR teamed up with Hughes Aircraft Company in 1990, with Hughes taking part ownership of FLIR.
The company became publicly traded in a June 1993 IPO which raised $11.5 million for the company with shares offered at $12.50. In 1994, the company had grown to sales of $47 million annually. The next year, J. Kenneth Stringer III was named as president of the company. The company bought Sweden's Agema Infrared System in 1997, which doubled the size of the company. Acquisitions continued the following year when they purchased Inframetrics Inc. of Massachusetts for $48 million.
The company's president and chief executive officer Kenneth Stringer III was fired by the board of directors in May 2000 due to errors in the company's accounting practices. In September 2002, the Securities and Exchange Commission (SEC) sued FLIR over accounting irregularities. The next year, three executives at the company were charged with fraudulent accounting related to the SEC case that included claims of inflated sales. Sales at FLIR grew to $311 million in fiscal year 2003. In 2004, the company bought a building in Wilsonville from Mentor Graphics for $10.3 million for use as a new headquarters.
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Wikipedia