Faro Technologies, Inc. (FARO) Tops Q1 EPS by 1c

Faro Technologies, Inc. (NASDAQ: FARO) reported Q1 EPS of $0.29, $0.01 better than the analyst estimate of $0.28. Revenue for the quarter came in at $73.4 million versus the consensus estimate of $74.24 million.

“The first quarter was a strong start to the new fiscal year, as our results were in-line with our internal expectations,” stated Jay Freeland, FARO’s President & CEO. “Customer demand in all three regions was solid, driving double-digit sales growth in the Americas and Asia and an improving European market where our orders achieved double-digit growth. While we continue to exercise prudent cost control across all departments, in 2014 we are accelerating our investments in R&D, creating new products for our early stage markets such as Architecture, Engineering and Construction and Forensics as well as our primary markets such as Aerospace, Automotive, and Heavy Industrial. We remain diligent in developing new ways to disrupt and transform the marketplace.”

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

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