Faro Technologies, Inc. (FARO) Misses Q3 EPS by 24c, CEO to Step Down

Faro Technologies, Inc. (NASDAQ: FARO) reported Q3 EPS of $0.05, $0.24 worse than the analyst estimate of $0.29. Revenue for the quarter came in at $72.5 million versus the consensus estimate of $84.1 million.

FARO Technologies, Inc. (NASDAQ: FARO) today announced that Jay Freeland plans to step down as President and Chief Executive Officer and member of the Board of Directors. Mr. Freeland will remain in his current role as President and CEO and as a member of the Board of Directors until a successor is appointed. Mr. Freeland has successfully served in that role for approximately 11 years and he is leaving to pursue other business and personal interests.

The Board of Directors has authorized an increase in the existing share repurchase program from $30 million to $50 million of FARO common stock. The Company plans to repurchase shares opportunistically, subject to trading restrictions and other legal requirement

For earnings history and earnings-related data on Faro Technologies, Inc. (FARO) click here.

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