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Faro Technologies misses Street 4Q forecasts

LAKE MARY, Fla. (AP) _ Faro Technologies Inc. (FARO) on Wednesday reported fourth-quarter profit of $3.5 million.

On a per-share basis, the Lake Mary, Florida-based company said it had net income of 21 cents.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The computer-aided measurement and imaging devices and software company posted revenue of $91.7 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $93.4 million.

For the year, the company reported profit of $11.1 million, or 67 cents per share. Revenue was reported as $325.6 million.

Faro Technologies shares have risen nearly 8 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $38.85, a rise of 47 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FARO at https://www.zacks.com/ap/FARO

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Keywords: Faro Technologies, Earnings Report