Incorporated in 1978, FLIR Systems, Inc. FLIR is an Oregon-based corporation, which specializes in designing, manufacturing and marketing of thermal imaging systems. Its products are used in a wide variety of applications in commercial, industrial and government markets, both international and domestic. The company offers a variety of system configurations to suit specific customer requirements.FLIR’s core strength in providing reliable and effective imaging and threat-detection technologies has been bolstering its growth momentum. This apart, the company’s “Commercially-Developed, Military Qualified” (“CDMQ”) model has been quite popular in government and military markets over the past couple of quarters, and is expected to drive earnings in the to-be-reported quarter as well. However, strengthening U.S. dollar, stringent pricing environment and ongoing macroeconomic volatility are major headwinds that might prove to be a drag on profitability.FLIR has a choppy earnings track record, having delivered an average earnings surprise of -2.3% in the last four trailing quarters, with three misses and one beat.Currently, FLIR has a Zacks Rank #3 (Hold) but that could change following its first-quarter 2016 earnings report which has just released. We have highlighted some of the key details from the just-released announcement below:Earnings: FLIR’s earnings per share came in at 30 cents, missing the Zacks Consensus Estimate of 32 cents.Revenue: Revenues of $379.5 million came ahead of the Zacks Consensus Estimate of $358 million.Key Stats: Revenues of the company grew an impressive 10% year over year. However, operating income fell 13% to $57.4 million in the quarter, compared to the year-ago tally.Stock Price: Shares prices were inactive following the release. It would be interesting to see how the market reacts to the results during the trading session today.Check back for our full write up on this FLIR earnings report later!Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FLIR SYSTEMS (FLIR): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research