FARO, the LakeMary Fl,Co. is having a C.C. today after reporting good results yesterday.
FARO's Profits Surge 185% in the Quarter; Sales Increase 28% in the Year.
LAKE MARY, Fla., March 26 /PRNewswire-FirstCall/ -- FARO Technologies, Inc. (Nasdaq: FARO - News) today reported a 185% surge in fourth quarter earnings, fueled by increases in sales and operating margin.
Net income was $1.6M, or $0.13/share, in the 4th Q, compared to $562,000 or $0.05/share in the 2001 Q. Sales r were $15.1 M, a 45.2% increase from $10.4M in the 4th Q of 2001. The increase in sales was due to $3.3 M in Laser Tracker sales, a new product in 2002, and $1.4 M in increased sales of the Faro Arm product.
Gross margin improved for the second consecutive Q due primarily to a continuing improvement in production of the new Laser Tracker and a completely new line of Faro Arm products, which were introduced in 2002.
The stock has been up more than 30% as it is trying to close above its January Hs.
siliconinvestor.com
The stock has been forming a base in the last 3 yrs. It has been trading around 0.8 of book and 0.6 of sales. Insiders hold more than 30%.The float is around 8M.
siliconinvestor.com
Bernard |
