Faro Technologies, Inc. (FARO) Reports In-Line Q2 EPS

Faro Technologies, Inc. (NASDAQ: FARO) reported Q2 EPS of $0.24, in-line with the analyst estimate of $0.24. Revenue for the quarter came in at $83.8 million versus the consensus estimate of $79.69 million.

"Second quarter sales were highlighted by strong growth of 18% in the Americas. Our global sales continued to be impacted by foreign currency and weaker capital spending in Asia Pacific. Excluding approximately $8.4 million of currency headwind, our reported sales of $83.8 million in the quarter would have shown sales growth very close to our long-term mid-teens growth model," stated Jay Freeland, FARO's President and CEO. "The FARO Focus3D laser scanner posted more than 18% year-over-year unit sales growth in the quarter, driven by the team executing on its strategic initiatives to penetrate the AEC and law enforcement markets. The new FARO Freestyle3D handheld scanner continues to gain sales momentum and win customer acceptance. In response to our first quarter results, we executed targeted cost reductions throughout the second quarter, while continuing to keep our core commitment of investing in innovation and new product development."

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

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