FARO Reports Third Quarter 2011 Sales Growth of 43.1% and EPS Growth of 171.4%
finance.yahoo.com
Sales in the third quarter of 2011 increased 43.1%, to $64.8 million, from $45.3 million in the third quarter of 2010. The Company reported net income increased by 176% to $6.4 million, or $0.38 per share, in the third quarter of 2011, from $2.3 million, or $0.14 per share, in the third quarter of 2010.
New order bookings for the third quarter of 2011 were $60.2 million, an increase of $13.4 million, or 28.6%, compared to $46.8 million in the third quarter of 2010."Despite challenging economies in several major regions, worldwide demand for FARO's solutions remains strong, demonstrated by our 43% growth in sales in the quarter. The Americas grew by 43.7%, Europe grew by 53.0%, and Asia grew by 27.4%," stated Jay Freeland, FARO's President and CEO. "We had solid revenue growth in all major product lines. |
