FARO TECHNOLOGIES, INC. AND SUBSIDIARIES
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(in thousands, except share and per share data) | September 30,
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| December 31,
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ASSETS |
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Current assets: |
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Cash and cash equivalents | $ 48,534 |
| $ 121,989 |
Accounts receivable, net | 75,347 |
| 78,523 |
Inventories, net | 50,956 |
| 53,145 |
Prepaid expenses and other current assets | 33,801 |
| 19,793 |
Total current assets | 208,638 |
| 273,450 |
Non-current assets: |
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Property, plant and equipment, net | 20,424 |
| 22,194 |
Operating lease right-of-use assets | 18,404 |
| 22,543 |
Goodwill | 101,279 |
| 82,096 |
Intangible assets, net | 48,094 |
| 25,616 |
Service and sales demonstration inventory, net | 28,249 |
| 30,554 |
Deferred income tax assets, net | 18,092 |
| 21,277 |
Other long-term assets | 2,047 |
| 2,010 |
Total assets | $ 445,227 |
| $ 479,740 |
LIABILITIES AND SHAREHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable | $ 17,546 |
| $ 14,199 |
Accrued liabilities | 22,881 |
| 28,208 |
Income taxes payable | 6,421 |
| 4,499 |
Current portion of unearned service revenues | 36,440 |
| 40,838 |
Customer deposits | 5,873 |
| 5,399 |
Lease liabilities | 5,532 |
| 5,738 |
Total current liabilities | 94,693 |
| 98,881 |
Unearned service revenues - less current portion | 20,868 |
| 22,350 |
Lease liabilities - less current portion | 14,344 |
| 18,648 |
| Deferred income tax liabilities | 5,708 |
| 1,058 |
| Long-term note payable | — |
| — |
| Income taxes payable - less current portion | 10,131 |
| 11,297 |
| Other long-term liabilities | 19 |
| 1,047 |
| Total liabilities | 145,763 |
| 153,281 |
| Common stock - par value $.001, 50,000,000 shares authorized; 20,153,287 and
| 20 |
| 20 |
| Additional paid-in capital | 325,244 |
| 301,061 |
| Retained earnings | 49,022 |
| 73,544 |
| Accumulated other comprehensive loss | (44,165) |
| (17,374) |
| Common stock in treasury, at cost - 1,376,351 and 1,382,367 shares held, respectively | (30,657) |
| (30,792) |
| Total shareholders' equity | 299,464 |
| 326,459 |
| Total liabilities and shareholders' equity | $ 445,227 |
| $ 479,740 |
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FARO Announces Third Quarter Financial Results
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