Needham & Company Raises Price Target on Faro Technologies (FARO) to $39 Following 2nd Consecutive Beat

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Go back to Needham & Company Raises Price Target on Faro Technologies (FARO) to $39 Following 2nd Consecutive Beat

FARO Reports First Quarter 2016 Financial Results

May 3, 2016 4:05 PM EDT

LAKE MARY, Fla., May 3, 2016 /PRNewswire/ -- FARO Technologies, Inc. (NASDAQ: FARO) today announced its financial results for the first quarter ended March 31, 2016.

Sales for the quarter ended March 31, 2016 were $75.7 million, up 8.3% compared with $69.9 million in the first quarter last year.  Excluding approximately $0.9 million of unfavorable foreign exchange impacts, first quarter sales would have increased approximately 10% as compared with the first quarter of 2015.  The Company's sales growth was driven primarily by higher metrology sales within the Americas and... More