Faro Technologies (FARO) Misses Q1 EPS by 8c

Faro Technologies (NASDAQ: FARO) reported Q1 EPS of ($0.03), $0.08 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $76.3 million versus the consensus estimate of $76.11 million.

"First quarter demand reflected historical seasonality combined with an ongoing but improving pandemic demand impact that we believe will continue to improve throughout 2021," stated Michael Burger, President and Chief Executive Officer. "Once demand returns to normalized pre-pandemic levels, we believe our new cost structure will enable the sustained achievement of our success model of 20% EBITDA margins."

Mr. Burger continued, ""While demand recovers, we remain focused on executing our strategic initiatives including the alignment of our hardware and software development activities to add value to our customer\'s workflows and create long-term product differentiation in our target markets."

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

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