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Quarterly Financial Data (Unaudited)
 12 Months Ended
Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Data (Unaudited)
QUARTERLY FINANCIAL DATA (UNAUDITED)
FLIR SYSTEMS, INC.
(In thousands, except per share data)

 
Q1
 
Q2
 
Q3
 
Q4
2019
 
 
 
 
 
 
 
Revenue
$
444,736

 
$
481,998

 
$
471,248

 
$
489,044

Gross profit
233,659

 
233,620

 
229,587

 
232,637

Net earnings(1)
61,748

 
46,118

 
62,047

 
1,684

Earnings per share:
 
 
 
 
 
 
 
Basic earnings per share
$
0.46

 
$
0.34

 
$
0.46

 
$
0.01

Diluted earnings per share
$
0.45

 
$
0.34

 
$
0.46

 
$
0.01

 
 
 
 
 
 
 
 
2018
 
 
 
 
 
 
 
Revenue
$
439,618

 
$
452,707

 
$
434,898

 
$
448,463

Gross profit
217,914

 
232,551

 
222,074

 
227,779

Net earnings(2)
39,195

 
71,563

 
73,151

 
98,516

Earnings per share:
 
 
 
 
 
 
 
Basic earnings (loss) per share
$
0.28

 
$
0.52

 
$
0.53

 
$
0.72

Diluted earnings (loss) per share
$
0.28

 
$
0.51

 
$
0.52

 
$
0.71

_______________
(1)
Net earnings for the fourth quarter of 2019 includes discrete tax expense of $23.2 million and $13.7 million of asset impairment charges associated with the Company's restructuring of the OTS business.

(2)
Net earnings for the fourth quarter of 2018 includes $15.0 million for the costs of a regulatory settlement and a discrete tax benefit of $33.1 million for the cancellation of Belgium tax assessments issued as part of the European Commission's decision regarding state aid.

The sum of the quarterly earnings per share does not always equal the annual earnings per share as a result of the computation of quarterly versus annual average shares outstanding.