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FARO Technologies Inc. Message Board

  • equity2noel equity2noel Oct 30, 2013 5:29 PM Flag

    FARO Techs beats by $0.08, beats on revenues • 5:16 PM

    FARO Techs beats by $0.08, beats on revenues • 5:16 PM

    FARO Techs (FARO): Q3 EPS of $0.29 beats by $0.08.
    Revenue of $68.2M (+7.5% Y/Y) beats by $1.93M. (PR)

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    • gary_anderson_3dprintingstocks gary_anderson_3dprintingstocks Oct 31, 2013 10:42 AM Flag

      Conf. call highlights:

      •Sales & Marketing head count increased 16% to 429 in Q3
      •“Market conditions improving in Europe”
      •R&D investments up- working on “exciting, new disruptive products that show promise”
      •Orders of X 330 scanner (launched 4 weeks ago) are “beyond expectations”
      •“Cash balance $182M”, “future acquisitions are a possibility”
      •New product launches planned for 2014
      •Q4 expected to show typical seasonally stronger sales
      •Order run rate for new X 330 scanner is better than FLS scanner launch 3 years ago
      •No capacity concerns with high initial orders for X 330
      •Gross margins expected to remain 56%-57% range (manufacturing costs coming down, selling prices firming up)
      •DSO steady at about 70 days
      •Have good relationships with DDD and SSYS- see no competition from DDD’s launch into private consumer-based 3D scanners expected in December-FARO operates in industrial/commercial markets
      •Pricing environment in metrology devices stabilizing, pricing on high end tracker devices more robust
      •FARO market strength noted in aerospace, automotive industries
      •2014 looking “fairly robust” for product launches
      •R&D expected to remain 8-9% of revenues

      Overall Impression: Conf. call more upbeat by management and analysts than previous two calls- I expect upgrade(s) in FARO to follow.

    • Still all about the pipeline here which according to Jay is the most robust ever.

      Let's see what he says tomorrow.

      But hopefully he doesn't say too much....

    • gary_anderson_3dprintingstocks gary_anderson_3dprintingstocks Oct 30, 2013 8:05 PM Flag

      Nice numbers- beat the highest EPS estimate. Nice cash position and current ratio just over 6. They should spend some $ on acquisitions. Also would expect to see an upgrade or two on these numbers and balance sheet.

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