FARO Reports First Quarter 2019 Financial Results

 

FARO TECHNOLOGIES, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) INCOME
(UNAUDITED)



Three Months Ended

(in thousands)

March 31, 2019


March 31, 2018

Net income

$

152



$

455


Currency translation adjustments

(1,564)



5,214


Comprehensive (loss) income

$

(1,412)



$

5,669


 

FARO TECHNOLOGIES, INC. AND SUBSIDIARIES
UNAUDITED SUPPLEMENTAL DATA




Three Months Ended

(sales in thousands)


Q1 2019
Sales


Q1 2018
Sales


% Change

Reporting Segments







3D Manufacturing(1)


$

56,567



$

60,657



(6.7)

%

Construction BIM(2)


25,440



22,682



12.2

%

Emerging Verticals(3)


11,610



9,495



22.3

%

Total


$

93,617



$

92,834



0.8

%


(1) The 3D Manufacturing reporting segment contains solely our 3D Manufacturing vertical.

(2) The Construction BIM reporting segment contains solely our Construction BIM vertical.

(3) The Emerging Verticals reporting segment includes our 3D Design, Public Safety Forensics, and Photonics verticals.

 

FARO TECHNOLOGIES, INC. AND SUBSIDIARIES
UNAUDITED SUPPLEMENTAL DATA



New Order
Bookings

(in millions)


Ending
Sales
Headcount


Sales FTE
Headcount(1)


Trailing 12 Months
Sales FTE
Headcount(1)


Trailing 12 Months
Orders per Sales FTE
(in thousands)(1)

Q2-16

$81.6


468


424


419


$782

Q3-16

$79.8


507


435


424


$790

Q4-16

$95.8


536


454


432


$766

Q1-17

$86.9


593


486


450


$765

Q2-17

$89.0


627


516


473


$743

Q3-17

$90.5


635


548


501


$723

Q4-17

$110.6


631


568


530


$711

Q1-18

$96.1


653


581


553


$698

Q2-18

$106.5


672


591


572


$706

Q3-18

$100.5


707


604


586


$706

Q4-18

$122.2


733


621


599


$710

Q1-19

$100.7


737


633


612


$703


(1) Sales full-time experienced ("FTE") is a metric whereby sales headcount is measured as a time-weighted average with the first year contribution of a new employee discounted by an experience factor.


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