Good morning, everyone and welcome to FARO Technologies First Quarter 2021 Earnings Call.
For opening remarks and introductions, I will now turn the call over to Michael Funari at Sapphire Investor Relations. Please go ahead.
Michael Funari
Sapphire Investor Relations
Thank you and good morning. With me today from FARO are Michael Burger, Chief Executive Officer; and Allen Muhich, Chief Financial Officer. Yesterday, after the market close, the company released its financial results for the first quarter of 2021. The related press release and Form 10-Q for the first quarter are available on FARO s website at www.faro.com.
To help you better understand the company and its results, during the course of this call, management may make statements that may be considered forward-looking and are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements can be identified by words such as expect, will, believe, anticipate, plan
Faro Technologies: Q1 Earnings Snapshot
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Quarterly Results
Earnings per share fell 50.00% over the past year to ($0.03), which missed the estimate of $0.05.
Revenue of $76,331,000 decreased by 4.00% from the same period last year, which beat the estimate of $76,110,000.
Outlook
Faro Technologies hasn t issued any revenue guidance for the time being.
Technicals
Company s 52-week low was at $49.00
Price action over last quarter: down 1.76%
Company Description
Faro Technologies Inc is a global technology company. It designs, develops, manufactures, markets and supports software driven, three-dimensional (3-D) measurement, imaging, and realization systems. The operating segments of the company are 3D Manufacturing, Construction BIM, and Emerging Verticals.
Geospatial World
03/01/2021 2 Minutes Read
FARO Technologies, Inc., a global leader for 3D measurement, imaging, and realization solutions for 3D Metrology, AEC (Architecture, Engineering & Construction), and Public Safety Analytics, today announced two new strategic goals in support of its Environment, Social & Governance (ESG) efforts.
The first new goal is to reduce the company’s carbon emissions by 25% by 2025 through aggressive activities that improve environmental performance. The second new goal is to establish middle and high school partnerships to improve the curriculum in Science, Technology, Engineering & Mathematics (STEM) especially for minorities and females from low-income and disadvantaged areas. Year-one STEM funding will be $50,000 across the US, Canada, Germany, Portugal, the U.K, Singapore, and India.
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