Maker of thermal-imaging products and infrared cameras reported its fourth quarter result lower than Wall Street expectations as its net profit reported decline from $65 million or 41 cents to $60.3 million or 38 cents per share during the quarter

FLIR posted jump of 3% in revenue to $311.6 million, as compared to fourth quarter 2008 revenue of $302.3 million and on the year-on-year basis it reported revenue of $ 1,147.1 million, up 7% compared to $1,077.0 million for the year ended December 31, 2008.

According to the Earl Lewis, President and CEO of FLIR, Company is well positioned for long-term growth as it continues to execute on the management’s strategy to drive down the cost of infrared technology.

Company remain optimistic about its commercially developed, military qualified model will drive growth in Government Systems in the years to come and its 2010 outlook anticipates solid growth from the newly formed Commercial Systems and slower growth in Government Systems as a result of the anticipated decrease in deliveries under BETTS-C and related programs.

Company expects its net revenue for the fiscal year 2010 in the range of $1.2 billion to $1.3 million and net earnings in the range of $1.48 per diluted share to $1.53 per share.