FARO Reports Fourth Quarter and Fiscal Year 2018 Financial Results

 

 

FARO TECHNOLOGIES, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(UNAUDITED)



(in thousands, except share and per share data)

December 31,
2018


December 31,
2017

ASSETS




Current assets:




Cash and cash equivalents

$

108,783


$

140,960

Short-term investments

24,793


10,997

Accounts receivable, net

88,927


72,105

Inventories, net

65,444


53,786

Prepaid expenses and other current assets

28,795


16,311

Total current assets

316,742


294,159

Property and equipment:




Machinery and equipment

76,048


66,514

Furniture and fixtures

6,749


6,945

Leasehold improvements

20,304


19,872

Property and equipment at cost

103,101


93,331

Less: accumulated depreciation and amortization

(72,684)


(61,452)

Property and equipment, net

30,417


31,879

Goodwill

67,274


52,750

Intangible assets, net

33,054


22,540

Service and sales demonstration inventory, net

39,563


39,614

Deferred income tax assets, net

14,719


15,606

Other long-term assets

4,475


2,030

Total assets

$

506,244


$

458,578

LIABILITIES AND SHAREHOLDERS' EQUITY




Current liabilities:




Accounts payable

$

20,093


$

11,569

Accrued liabilities

36,327


27,362

Income taxes payable

5,081


4,676

Current portion of unearned service revenues

32,878


29,674

Customer deposits

3,144


2,604

Total current liabilities

97,523


75,885

Unearned service revenues - less current portion

15,505


11,815

Deferred income tax liabilities

736


695

Income taxes payable - less current portion

12,247


15,952

Other long-term liabilities

3,624


2,165

Total liabilities

129,635


106,512

Shareholders' equity:




Common stock - par value $.001, 50,000,000 shares authorized; 18,676,059 and 18,277,142
issued; 17,253,011 and 16,796,884 outstanding, respectively

19


18

Additional paid-in capital

251,329


223,055

Retained earnings

175,353


168,624

Accumulated other comprehensive loss

(18,483)


(7,822)

Common stock in treasury, at cost - 1,423,048 shares and 1,480,258, respectively

(31,609)


(31,809)

Total shareholders' equity

376,609


352,066

Total liabilities and shareholders' equity

$

506,244


$

458,578


« Previous Page 1 | 2 | 3 | 4 | 5 | 6  Next Page »



© 2024 Internet Business Systems, Inc.
670 Aberdeen Way, Milpitas, CA 95035
+1 (408) 882-6554 — Contact Us
ShareCG™ is a trademark of Internet Business Systems, Inc.

Report a Bug Report Abuse Make a Suggestion About Privacy Policy Contact Us User Agreement Advertise