FARO Technologies Inc. (NASDAQ:FARO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
FARO Technologies Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 17.86% to $0.46 in the quarter versus EPS of $0.56 in the year-earlier quarter.
Revenue: Rose 4.66% to $80.67 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: FARO Technologies Inc. reported adjusted EPS income of $0.46 per share. By that measure, the company beat the mean analyst estimate of $0.31. It beat the average revenue estimate of $68.01 million.
Quoting Management: “Performance in the fourth quarter and for the full year was solid in light of the economic headwinds we faced in most of our end markets. Although customer interest was strong throughout the year and our new products were well received, deal closure rates were slower reflecting continued economic uncertainty,” stated Jay Freeland, FARO’s President & CEO.
Key Stats (on next page)…