|
FARO TECHNOLOGIES, INC. AND SUBSIDIARIES |
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CONDENSED CONSOLIDATED BALANCE SHEETS |
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(in thousands, except share and per 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 |
$ |
119,083 |
$ |
108,783 |
|
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Short-term investments |
24,868 |
24,793 |
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Accounts receivable, net |
64,708 |
88,927 |
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Inventories, net |
69,779 |
65,444 |
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Prepaid expenses and other current assets |
28,084 |
28,795 |
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Total current assets |
306,522 |
316,742 |
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Property and equipment: |
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Machinery and equipment |
82,578 |
76,048 |
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Furniture and fixtures |
6,172 |
6,749 |
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Leasehold improvements |
21,066 |
20,304 |
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Property and equipment at cost |
109,816 |
103,101 |
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Less: accumulated depreciation and amortization |
(81,411) |
(72,684) |
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Property and equipment, net |
28,405 |
30,417 |
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Operating lease right-of-use asset |
18,672 |
— |
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Goodwill |
69,712 |
67,274 |
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Intangible assets, net |
27,530 |
33,054 |
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Service and sales demonstration inventory, net |
39,509 |
39,563 |
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Deferred income tax assets, net |
14,693 |
14,719 |
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Other long-term assets |
2,987 |
4,475 |
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Total assets |
$ |
508,030 |
$ |
506,244 |
|
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LIABILITIES AND SHAREHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable |
$ |
11,705 |
$ |
20,093 |
|
|
Accrued liabilities |
35,255 |
36,327 |
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Income taxes payable |
1,081 |
5,081 |
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Current portion of unearned service revenues |
35,273 |
32,878 |
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Customer deposits |
2,419 |
3,144 |
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Lease liability |
6,615 |
— |
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Total current liabilities |
92,348 |
97,523 |
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Unearned service revenues - less current portion |
18,171 |
15,505 |
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Lease liability - less current portion |
13,922 |
— |
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Deferred income tax liabilities |
2,466 |
736 |
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Income taxes payable - less current portion |
12,567 |
12,247 |
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Other long-term liabilities |
1,031 |
3,624 |
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Total liabilities |
140,505 |
129,635 |
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Shareholders' equity: |
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Common stock - par value $.001, 50,000,000 shares authorized; 18,816,598 and
|
19 |
19 |
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Additional paid-in capital |
260,737 |
251,329 |
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Retained earnings |
162,574 |
175,353 |
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Accumulated other comprehensive loss |
(24,430) |
(18,483) |
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Common stock in treasury, at cost; 1,412,511 and 1,423,048 shares, respectively |
(31,375) |
(31,609) |
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Total shareholders' equity |
367,525 |
376,609 |
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Total liabilities and shareholders' equity |
$ |
508,030 |
$ |
506,244 |
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