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Faro Reports Profits, Acquires Software Firm

Photonics.com
Jul 2014
LAKE MARY, Fla., July 31, 2014 — Faro Technologies Inc. recently announced strong earnings and sales results, as well as a new acquisition.

The 3-D measurement and imaging firm’s net income increased 74.3 percent to $6.3 million in the second quarter of 2014 from $3.6 million in the second quarter of 2013.

Sales increased 20.1 percent to $82.1 million from $68.3 million in the second quarter of 2013.

The company said manufacturing efficiency improvements provided favorable margins for its metrology products. Meanwhile, it said it has ramped up R&D efforts, increasing spending in that area by 29 percent to $6.7 million in the second quarter.

On July 29 Faro acquired law enforcement software firm The CAD Zone Inc. of Beaverton, Ore. CAD Zone’s point-cloud software application will be integrated with Faro's laser scanning technology for crime scene and other forensic applications.

For more information, visit www.faro.com.

GLOSSARY
metrology
The science of measurement, particularly of lengths and angles.
3-D3DAmericasBusinessFaroimagingmetrologyTest & MeasurementCAD Zonelasers

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