FARO Reports Second Quarter 2019 Financial Results

About FARO
FARO is the world's most trusted source for 3D measurement and imaging solutions. The Company develops and markets computer-aided measurement and imaging devices and software for the following vertical markets:

  • 3D Manufacturing - High-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes
  • Construction BIM - 3D capture of as-built construction projects and factories to document complex structures and perform quality control, planning and preservation
  • Public Safety Forensics - Capture and analysis of on-site real world data to investigate crash, crime and fire events, plan security activities and provide virtual reality training for public safety personnel
  • 3D Design - Capture and edit 3D shapes of products, people, and/or environments for design purposes in product development, computer graphics and dental and medical applications
  • Photonics - Develop and market galvanometer-based laser measurement products and solutions

FARO's global headquarters is located in Lake Mary, Florida.  The Company's European regional headquarters is located in Stuttgart, Germany and its Asia-Pacific regional headquarters is located in Singapore. FARO has other offices in the United States, Canada, Mexico, Brazil, Germany, the United Kingdom, France, Spain, Italy, Poland, Turkey, the Netherlands, Switzerland, India, China, Malaysia, Thailand, South Korea, Japan, and Australia.

More information is available at http://www.faro.com

 

FARO TECHNOLOGIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(UNAUDITED)

 
 

Three Months Ended

 

Six Months Ended

(in thousands, except share and per share data)

June 30, 2019

 

June 30, 2018

 

June 30, 2019

 

June 30, 2018

Sales

             

Product

$

67,992

   

$

75,720

   

$

136,792

   

$

146,301

 

Service

25,499

   

22,524

   

50,316

   

44,777

 

Total sales

93,491

   

98,244

   

187,108

   

191,078

 

Cost of Sales

             

Product

29,037

   

27,878

   

55,165

   

54,762

 

Service

12,135

   

12,675

   

24,605

   

24,839

 

Total cost of sales (exclusive of depreciation and
amortization, shown separately below)

41,172

   

40,553

   

79,770

   

79,601

 

Gross Profit

52,319

   

57,691

   

107,338

   

111,477

 

Operating Expenses

             

Selling and marketing

29,124

   

30,084

   

55,877

   

58,355

 

General and administrative

14,424

   

11,320

   

27,648

   

22,393

 

Depreciation and amortization

4,573

   

4,377

   

9,322

   

8,720

 

Research and development

9,091

   

9,983

   

19,026

   

19,389

 

Total operating expenses

57,212

   

55,764

   

111,873

   

108,857

 

(Loss) income from operations

(4,893)

   

1,927

   

(4,535)

   

2,620

 

Other expense (income)

             

Interest expense (income), net

240

   

(87)

   

96

   

(160)

 

Other expense, net

1,689

   

509

   

1,884

   

693

 

(Loss) income before income tax (benefit) expense

(6,822)

   

1,505

   

(6,515)

   

2,087

 

Income tax (benefit) expense

(417)

   

300

   

(262)

   

427

 

Net (loss) income

$

(6,405)

   

$

1,205

   

$

(6,253)

   

$

1,660

 

Net (loss) income per share - Basic

$

(0.37)

   

$

0.07

   

$

(0.36)

   

$

0.10

 

Net (loss) income per share - Diluted

$

(0.37)

   

$

0.07

   

$

(0.36)

   

$

0.10

 

Weighted average shares - Basic

17,341,647

   

16,966,928

   

17,323,479

   

16,902,390

 

Weighted average shares - Diluted

17,341,647

   

17,264,642

   

17,323,479

   

17,210,054

 

« Previous Page 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12  Next Page »



Review Article Be the first to review this article
Featured Video
Latest Blog Posts
Alex Carrick, Chief Economist at ConstructConnectThe AEC Lens
by Alex Carrick, Chief Economist at ConstructConnect
Seven Mid-January Economic Nuggets
Jobs
Business Analyst for GeoDecisions at Raleigh, North Carolina
GIS Developer for GeoDecisions at Vienna, Virginia
Dev/Ops Developer for GeoDecisions at O'Fallon, Illinois
Mid-Level Developer for GeoDecisions at Raleigh, North Carolina
GIS Developer for GeoDecisions at St. Charles, Missouri
Senior Level Developer for GeoDecisions at Raleigh, North Carolina
Upcoming Events
Conservation of Architectural Heritage (CAH) 4th Edition at Luxor - Egypt http://bit.ly/CAHLOC Luxor Egypt - Jan 31 - 3, 2020
AIME at MELBOURNE Australia - Feb 17 - 19, 2020
ICPRAM 2020 at The Grand Hotel Excelsior Valletta Malta - Feb 22 - 24, 2020
Kenesto: 30 day trial
Bentley: Livestream On Demand
CADalog.com - Countless CAD add-ons, plug-ins and more.



Internet Business Systems © 2020 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
TechJobsCafe - Technical Jobs and Resumes EDACafe - Electronic Design Automation GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise