FARO Reports Third Quarter 2019 Financial Results

 

 

FARO TECHNOLOGIES, INC. AND SUBSIDIARIES

DEPRECIATION AND AMORTIZATION EXPENSE RECLASSIFICATION

(UNAUDITED)


Commencing with the third quarter of 2019, depreciation and amortization expenses are being reported in the accompanying statements of operations to reflect departmental costs. Previously, those expenses were reported as a separate line item under operating expenses. Depreciation and amortization expenses were reclassified in prior periods to conform to the current period presentation, as follows:



Three months ended

(in thousands)

March 31,
2018


June 30,
2018


September 30,
2018


December 31,
2018


March 31,
2019


June 30,
2019

Product cost of sales as reported

$

26,884


$

27,878


$

34,004


$

36,036


$

26,128


$

29,037

Depreciation and amortization adjustment

853


842


860


851


1,176


796

Product cost of sales as adjusted

$

27,737


$

28,720


$

34,864


$

36,887


$

27,304


$

29,833













Service cost of sales as reported

$

12,164


$

12,675


$

13,384


$

12,257


$

12,470


$

12,135

Depreciation and amortization adjustment

826


856


845


860


824


783

Service cost of sales as adjusted

$

12,990


$

13,531


$

14,229


$

13,117


$

13,294


$

12,918













Selling and marketing as reported

$

28,271


$

30,084


$

27,811


$

30,754


$

26,753


$

29,124

Depreciation and amortization adjustment

512


528


671


689


466


876

Selling and marketing as adjusted

$

28,783


$

30,612


$

28,482


$

31,443


$

27,219


$

30,000













General and administrative as reported

$

11,073


$

11,320


$

12,496


$

12,763


$

13,224


$

14,424

Depreciation and amortization adjustment

690


604


606


846


578


583

General and administrative as adjusted

$

11,763


$

11,924


$

13,102


$

13,609


$

13,802


$

15,007













Depreciation and amortization as reported

$

4,343


$

4,377


$

4,747


$

4,846


$

4,749


$

4,573

Depreciation and amortization adjustment

(4,343)


(4,377)


(4,747)


(4,846)


(4,749)


(4,573)

Depreciation and amortization as adjusted

$


$


$


$


$


$













Research and development as reported

$

9,406


$

9,983


$

9,975


$

10,342


$

9,935


$

9,091

Depreciation and amortization adjustment

1,462


1,547


1,765


1,600


1,705


1,535

Research and development as adjusted

$

10,868


$

11,530


$

11,740


$

11,942


$

11,640


$

10,626


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Reviews:
Review Article
  • Study July 15, 2020
    Reviewed by 'James Shaws'
    The financial results of the FARO are showing that everything is going very great. I am glad to see the huge profit growth of this company. One needs to visit edubirdie.net/blog/is-edubirdie-legal-or-cheating source to know is edubirdie legit to use. It is impressive that this company has survived the coronavirus pandemic.

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