Faro Technologies reports Q2 non-GAAP EPS (14c), consensus (40c)

Reports Q2 revenue $88.2M, consensus $81.56M. “Q2 revenue of $88.2M, increased 10% year over year or 6% excluding the impact of prior year acquisitions, exceeded our expectations and was enabled by improved shipments of Quantum Max Arms and Vantage Laser Trackers,” said Yuval Wasserman, Executive Chairman. “Further, we were able to execute our cost reduction activities one quarter ahead of plan and now expect to realize our lower cost base in the third quarter. We remain focused on the execution of our hardware and software enabled strategy of providing 4D digital reality solutions to our customers in the large and growing 3D Metrology, AECO and Public Safety Analytics end markets.”