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Sep 30, 2020
FARO Q3 2020 Earnings Report
FARO experienced sequential performance improvement as global economies reopened and customers resumed capital investment. The company progressed on strategic initiatives, including the Digital Twin initiative through the acquisition of Advanced Technical Solutions (ATS).
Key Takeaways
FARO's total sales were $70.7 million, a 17% sequential quarterly increase from Q2 2020, but a 22% decrease compared to Q3 2019. The net loss was $3.0 million, or $0.17 per share, compared to a net loss of $6.2 million, or $0.36 per share, for the third quarter 2019.
Total sales were $70.7 million, a 17% sequential quarterly increase from Q2 2020, but a 22% decrease compared to Q3 2019.
New order bookings of $72.0 million increased 17% sequentially compared to Q2 2020, but were down 24% compared to Q3 2019.
Gross margin was 51.3% compared to 56.1% for the same prior year period.
Net loss was $3.0 million, or $0.17 per share, compared to a net loss of $6.2 million, or $0.36 per share, for the third quarter 2019.
FARO
FARO
FARO Revenue by Segment
Revenue by Segment
Product Sales Revenue
CapyFin.comService Sales Revenue
CapyFin.com Forward Guidance
FARO anticipates strong operating leverage and profit growth as demand returns to normalized levels, based on cost reduction actions taken earlier in the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income