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FARO TECHNOLOGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | |||||||
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|
Three Months Ended | ||||||
|
(in thousands, except share and per share data) |
March 31, 2018 |
|
March 31, 2017 | ||||
|
Sales |
|
|
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|
Product |
$ |
70,581 |
|
|
$ |
62,380 |
|
|
Service |
22,253 |
|
|
19,182 |
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Total sales |
92,834 |
|
|
81,562 |
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Cost of Sales |
|
|
| ||||
|
Product |
26,884 |
|
|
27,058 |
| ||
|
Service |
12,164 |
|
|
10,755 |
| ||
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Total cost of sales (exclusive of depreciation and amortization,
|
39,048 |
|
|
37,813 |
| ||
|
Gross Profit |
53,786 |
|
|
43,749 |
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|
Operating Expenses |
|
|
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Selling and marketing |
28,271 |
|
|
22,872 |
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|
General and administrative |
11,073 |
|
|
10,699 |
| ||
|
Depreciation and amortization |
4,343 |
|
|
3,718 |
| ||
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Research and development |
9,406 |
|
|
8,466 |
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Total operating expenses |
53,093 |
|
|
45,755 |
| ||
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Income (loss) from operations |
693 |
|
|
(2,006) |
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Other expense (income) |
|
|
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Interest income |
(73) |
|
|
(82) |
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Other expense, net |
184 |
|
|
8 |
| ||
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Income (loss) before income tax expense (benefit) |
582 |
|
|
(1,932) |
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|
Income tax expense (benefit) |
127 |
|
|
(471) |
| ||
|
Net income (loss) |
$ |
455 |
|
|
$ |
(1,461) |
|
|
Net income (loss) per share - Basic |
$ |
0.03 |
|
|
$ |
(0.09) |
|
|
Net income (loss) per share - Diluted |
$ |
0.03 |
|
|
$ |
(0.09) |
|
|
Weighted average shares - Basic |
16,837,754 |
|
|
16,684,164 |
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|
Weighted average shares - Diluted |
17,142,770 |
|
|
16,684,164 |
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