FLIR to sell-off Raymarine

[Brent]

https://www.ibinews.com/mergers-acquisi ... 98.article


Mergers, Acquisitions & Exits
FLIR to sell-off Raymarine

By Arlene SloanFebruary 27, 2020

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The thermal imaging specialist said it was undertaking a restructuring program and a formal process to evaluate divesture of Raymarine’s non-thermal maritime electronics business – a ‘best in class’ asset

US-based Flir Systems, parent company Raymarine, released fourth-quarter and 2019 year-end results today, showing revenue growth of 6% for the year up to $1.9 billion, and 9% growth for the quarter, compared to the same periods last year.

Full-year adjusted earnings (per diluted share) were $2.23 however earnings for the quarter were $0.55 per share, missing market estimates which expected approximately $0.62 per share – the same result the company posted a year ago. The earnings surprise of nearly -12% has sent FLIR’s share prices tumbling to mid-morning trading of $44.10 - down 17% and close to a 52-week low for the company.

Raymarine - Best in Class

However, the biggest news for observers in the boating business was the company’s announcement that it will be consolidating its Business Unit structure and has entered a formal process to evaluate divesture of Raymarine.

In the company statement, FLIR President and CEO Jim Cannon said, “To better position FLIR to deliver long-term growth through the execution of our strategic priorities, we have launched ‘Project Be Ready’. This initiative aims to simplify our product portfolio and better align resources with higher growth opportunities while reducing costs. Through Project Be Ready, we have discontinued certain non-core consumer centric product lines within the Outdoor and Tactical Systems business and have entered into a formal process to evaluate divestiture of our Raymarine non-thermal maritime electronics business. The remaining businesses within the Commercial Business Unit will be integrated into the Industrial Business Unit beginning in the first quarter of 2020.

IBI continues to monitor the story and will be reporting further details.

 

[warthog5]

There were people I spoke to that through Raymarine would get better when Flir took possession.

but alias....a poor name is hard to overcome.

 

[dave-j]

Whoever writes the company's releases sounds like they just migrated from a Dilbert comic! That quote could win a prize for highest per capita cliches and corporate gobbledygook.

The corporate communications team needs to be fired.

 

[Brent]

It could be that Raymarine is a small slice of their pie

 

[mheltunen]

There were people I spoke to that through Raymarine would get better when Flir took possession.

but alias....a poor name is hard to overcome.

Have you tried any of their newer axiom series displays? I have one on my vessel and with the quad core processor they are very fast to change pages and very user friendly. It’s been well documented that you are not fond of Raymarine and use their low end dragonfly series as your example. As far as their customer support I’ve always had excellent service and they have gone over and above to accommodate me when I did have a problem.


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[warthog5]

And which axiom do you have?

Touch screen

Pro Hybrid-touch

Glassbridge

 

[mheltunen]

I have the axiom 12 Rv with a rmk10 remote control. I’ve been very impressed with it so far. The refresh rate is very fast . If you have the opportunity to play around with one approach it with an open mind and you may be surprised.


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[warthog5]

So a Touch screen then ?

 

[mheltunen]

Correct. The rmk-10 is a full function remote so I rarely use the touch screen.


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[warthog5]

Glad it works for you......A Touch screen is something I NEVER recommend.

So your using a remote..... Don't understand that either? Punching on a remote while operating the boat?

Why do you need a Remote? You looking at the screen from the cockpit?


User friendly means a LOT.... No one is more user friendly than Garmin.

I hear Bitching about Garmins maps.....They want Navonic's.... I've never seen a problem with Garmins maps... I've been using them for over 30yrs.

 

[mheltunen]

Where my remote is located it is very easy to operate underway. It’s a one hand operation and it’s intuitive enough to learn that I don’t need to look at it much anymore . Garmin makes a great product as well and I’ve had the opportunity to use both. Personally I do prefer Raymarine (I fully admit I’m in the minority) but feel they both make an excellent product. It’s kind of a Ford Chevy debate IMO


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[warthog5]

Ha! Somehow in my mind overnight I figured you had some app on your phone to control it.

Your what is known as a "Gadget Guy".

 

[mheltunen]

Ha! Somehow in my mind overnight I figured you had some app on your phone to control it.

Your what is known as a "Gadget Guy".

Haha I assumed the term “remote” was sort of misleading. Yep my dash got a bit busy. The flow meter , thermostat and remote kinda clutter it up a bit but everything is available and easy to use from the helm (for me). Some of my fishing partners are afraid to touch anything on my dash.


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[warthog5]

thermostat

?

Why aren't you getting water temp via the X-Ducer?

 

[mheltunen]

thermostat

?

Why aren't you getting water temp via the X-Ducer?

Thermostat is for my oil furnace. It’s cold up here and heat is a great addition on cold days.


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[GoodChance]

I'm sorry to learn that FLIR is selling off Raymarine. I have virtually all Raymarine products on my 23 DVCC to include 2 MFD's (a128 and a78), a 24" Digital radar, Raymarine Autopilot. Everything is integrated and works extremely well. Even the Yamaha F300 is integrated getting all sorts of engine performance data. I've never had a single problem with anything except the autopilot..... shortly after installation, the AP would "wander" 30 degrees left/right. Raymarine sent down 2 technicians and diagnosed the problem ..... within 3 days I had a brand new system installed. The only piece of marine electronics on the boat not Raymarine is a Furuno 585.

For me, Raymarine is very easy to use. Their functions make sense to me.

I know that some don't like Raymarine and if I had to base my opinion of the current Raymarine lineup using the 20-year old Pathfinder and the 10-15 year old c120 series as a basepoint, I too would dislike Raymarine. But the a, c and e-series followed by the Axiom products are very reliable. Easy to use. Very accurate. Great radars. Leading class autopilots. Excellent CHIRP sonars. And of course the chartplotters are excellent allowing you to select 3 or 4 different basemaps.

I'll be watching to see where Raymarine lands. FLIR seemed to be a great parent company.