Faro Technologies (FARO) Misses Q2 EPS by 23c

Faro Technologies (NASDAQ: FARO) reported Q2 EPS of ($0.36), $0.23 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $60.6 million versus the consensus estimate of $66.22 million.

"I remain pleased with the progress we've made executing our strategic initiatives, despite the soft market environment. Our efforts combined with additional prudent cost control measures have enabled us to beat our non-GAAP operating expense objective a full six months earlier than expected. Further, the revitalized sales organization has embraced the new reality of a virtual sales model that I expect will continue to enable sales efficiencies when world conditions normalize," stated Michael Burger, President and Chief Executive Officer. "While the discretionary capital nature of our markets limits our visibility towards the timing of a recovery, we remain confident the actions we are taking will drive a meaningful increase in growth and profitability in the years ahead."

For earnings history and earnings-related data on Faro Technologies (FARO) click here.

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