NEW YORK (TheStreet) -- Shares of Flir Systems (FLIR) - Get Report were surging 10.83% to $32.55 on heavy trading volume late Wednesday afternoon after reporting better-than-expected revenue for the 2016 third quarter.
Before the market open, the Wilsonville, OR-based maker of thermal imaging cameras reported revenue of $405.2 million, topping analysts' expectations of $403.4 million.
Earnings of 43 cents per share were in line with analysts' estimates.
Flir Systems said it continues to expect full-year adjusted earnings between $1.60 and $1.65 per share on revenue between $1.60 billion and $1.65 billion.
Analysts surveyed by FactSet are looking for adjusted earnings of $1.61 per share on revenue of $1.64 billion for 2016.
About 1.40 million shares of Flir Systems have been traded so far today, well above the company's average trading volume of roughly 615,897 shares per day.
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B.
Flir Systems' strengths such as its revenue growth, good cash flow from operations, solid stock price performance, largely solid financial position with reasonable debt levels by most measures and expanding profit margins outweigh the fact that the company has had sub par growth in net income.
You can view the full analysis from the report here: FLIR
TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author.