FLIR Systems Inc (FLIR) Q4 2019 Earnings Call Transcript

FLIR Systems Inc (FLIR) Q4 2019 Earnings Call Transcript

Good morning everyone and thank you for joining FLIR's Fourth Quarter and Full year 2019 Earnings Conference Call.. Speaking with me on the call today is Carol Lowe our Chief Financial Officer.. Carol and I are also joined by Travis Merrill President of our Commercial Business Unit; David Ray President of our Government & Defense Business Unit; Frank Pennisi President of our Industrial Business Unit; and Sonia Galindo General Counsel.. FLIR finished 2019 with full year revenue of $1.9 billion and fourth quarter results that reflect the continuation of many of the trends we experienced in the third quarter.. Our Government & Defense and Industrial Business Units delivered performances highlighted by fourth quarter revenue growth and expanding full year backlog.. I also continue to be very pleased with our success in advancing our strategic priorities that will be key to achieving our long-term growth objectives.. And third we're continuing to make investments in R&D and compliance to successfully execute the recently awarded franchise programs and position FLIR for long-term profitable growth.. Specifically our 2020 R&D investments include at least $50 million to support the ramp of significant franchise programs with little or no corresponding revenue.. Examples include leveraging our enhanced