Q2 profits dip as sales rise
LAKE MARY, Fla., July 30, 2015 — Laura A. Murphy has been appointed senior vice president and chief financial officer at Faro Technologies Inc.
Murphy previously served as vice president for finance and health care compliance solutions at Stericycle Inc. a medical waste disposal firm in Illinois. Before that she was vice president and CFO of Philips NA Lighting Electronics, a division of Philips Electronics BV, and held finance positions at Ford Motor Co. with assignments in Germany, England and Spain.
She has a law degree and master's degree in business administration from the University of Wisconsin-Madison, and speaks both German and Spanish.
Meanwhile, the laser measurement technology firm reported that net income decreased 34.5 percent to $4.1 million, or $0.24 per diluted share, while sales rose 2.1 percent to $83.8 million in the second quarter, compared with the same period last year.
Faro President and CEO Jay Freeland said the company's efforts to enter the law enforcement, architecture, engineering and construction markets has led to higher sales of its 3D laser scanners. The company also carried out targeted cost reductions in response to decreased sales in the first quarter, Freeland said.