FARO Technologies (FARO) Releases Earnings Results, Misses Expectations By $-0.10 EPS

FARO Technologies (FARO) reported quarterly earnings results on Tuesday, Aug-2-2016. The company reported $0.20 earnings per share for the quarter, missing the analyst consensus estimate by $-0.10. Analysts had a consensus of $0.30. The company posted revenue of $78.54 million in the period, compared to analysts expectations of $84.70 million. The company’s revenue was down -6.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS.

Many Wall Street Analysts have commented on FARO Technologies. FBR Capital Reiterated FARO Technologies on May 11, 2016 to “Mkt Perform”, Price Target of the shares are set at $34.Company shares were Reiterated by Needham on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 39 from a previous price target of $37 .Noble Financial Upgraded FARO Technologies on May 5, 2016 to ” Buy”, Price Target of the shares are set at $41.

FARO Technologies closed down -0.37 points or -1.05% at $34.88 with 79,740 shares getting traded on Friday. Post opening the session at $35.1, the shares hit an intraday low of $34.56 and an intraday high of $35.68 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on May 9, 2016, Stephen Cole (director) purchased 5,000 shares at $33.80 per share price. According to the SEC, on Nov 9, 2015, Marvin R Sambur (director) purchased 2,200 shares at $24.96 per share price. On Mar 2, 2015, Jay Freeland (President & CEO) sold 40,000 shares at $60.33 per share price, according to the Form-4 filing with the securities and exchange commission.

FARO Technologies Inc. designs develops manufactures markets and supports software driven three-dimensional (3-D) measurement imaging and realization systems. The Company operates in three segments: Americas Europe/Africa and Asia-Pacific. The Company sells its products through a direct sales force across a number of customers in a range of manufacturing industrial architecture surveying building construction and law enforcement applications. Its FaroArm FARO Laser ScanArm FARO Gage FARO Laser Tracker FARO 3D Imager AMP and their companion CAM2 software provide for Computer-Aided Design (CAD)-based inspection and/or factory-level statistical process control and surveying. Its FARO Focus3D and FARO Freestyle3D laser scanners and their companion SCENE and FARO forensic software are utilized for a variety of 3-D modeling documentation and surveying applications including in two of its vertical markets: architecture engineering and construction and law enforcement.

FARO Technologies

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