|
FARO TECHNOLOGIES, INC. AND SUBSIDIARIES |
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CONDENSED CONSOLIDATED BALANCE SHEETS |
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(in thousands, except share data) |
September 30,
|
December 31,
|
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
$ |
129,841 |
$ |
106,169 |
|
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Short-term investments |
10,970 |
42,942 |
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Accounts receivable, net |
60,449 |
61,364 |
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Inventories, net |
59,044 |
51,886 |
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Prepaid expenses and other current assets |
20,919 |
16,304 |
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Total current assets |
281,223 |
278,665 |
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Property and equipment: |
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Machinery and equipment |
66,049 |
57,063 |
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Furniture and fixtures |
6,863 |
6,099 |
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Leasehold improvements |
19,588 |
18,778 |
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Property and equipment, at cost |
92,500 |
81,940 |
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Less: accumulated depreciation and amortization |
(60,189) |
(50,262) |
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Property and equipment, net |
32,311 |
31,678 |
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Goodwill |
52,567 |
46,744 |
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Intangible assets, net |
22,983 |
22,279 |
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Service and sales demonstration inventory, net |
35,250 |
29,136 |
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Deferred income tax assets, net |
14,498 |
14,307 |
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Other long-term assets |
1,049 |
905 |
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Total assets |
$ |
439,881 |
$ |
423,714 |
|
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LIABILITIES AND SHAREHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable |
$ |
11,964 |
$ |
11,126 |
|
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Accrued liabilities |
22,507 |
24,572 |
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Income taxes payable |
— |
618 |
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Current portion of unearned service revenues |
29,080 |
27,422 |
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Customer deposits |
3,065 |
2,872 |
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Total current liabilities |
66,616 |
66,610 |
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Unearned service revenues - less current portion |
12,665 |
13,813 |
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Deferred income tax liabilities |
1,683 |
1,409 |
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Other long-term liabilities |
2,191 |
2,225 |
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Total liabilities |
83,155 |
84,057 |
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Shareholders' equity: |
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Common stock - par value $.001, 50,000,000 shares authorized; 18,197,628 and 18,170,267
|
18 |
18 |
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Additional paid-in capital |
218,242 |
212,602 |
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Retained earnings |
179,682 |
183,436 |
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Accumulated other comprehensive loss |
(9,387) |
(24,561) |
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Common stock in treasury, at cost; 1,486,476 and 1,489,476 shares, respectively |
(31,829) |
(31,838) |
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Total shareholders' equity |
356,726 |
339,657 |
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Total liabilities and shareholders' equity |
$ |
439,881 |
$ |
423,714 |
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