UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of the earliest event reported) January 13, 2004
Commission File Number 0-23081
FARO TECHNOLOGIES, INC.
(Exact Name of Registrant as Specified in Its Charter)
Florida 59-3157093
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(State or Other Jurisdiction of Incorporation) (IRS Employer Identification No.)
125 TECHNOLOGY PARK, LAKE MARY, FLORIDA 32746
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(Address of Principal Executive Offices) (Zip Code)
(407) 333-9911
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(Registrant's Telephone Number, Including Area Code)
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(Former Name or Former Address, if Changed Since Last Report)
Item 9. Regulation FD Disclosure
Item 12. Results of Operations and Financial Condition
The following information is being furnished under Item 9 and Item 12 of
Form 8-K: Press release by FARO Technologies, Inc. reporting a 54% increase in
sales for 2003 year to $71.3 million. A copy of this press release is attached
as Exhibit 99.1 to this Form 8-K.
Signature
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunder duly authorized.
FARO TECHNOLOGIES, INC.
By: /s/ Gregory A. Fraser
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Gregory A. Fraser
Executive Vice President, Secretary,
and Treasurer
Date: January 13, 2004
EXHIBIT INDEX
Exhibit Number Description
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99.1 Press Release, dated January 12, 2004
Exhibit 99.1
FARO Reports 54% Increase In Sales For 2003 Year To $71.3 Million
LAKE MARY, Fla., Jan. 12 /PRNewswire-FirstCall/ -- FARO Technologies, Inc.
(Nasdaq: FARO) today reported sales of approximately $22.5 million for the
fiscal fourth quarter ended December 31, 2003, a 49.0% increase from $15.1
million in the fourth quarter of 2002, and $2.5 million, or 12.5% above the
high end of the Company's $18-$20 million forecast for the quarter. Backlog at
December 31, 2003 was approximately $7.5 million, an increase of approximately
$500,000 from $7.0 million at September 30, 2003. The Company reported new
order bookings of approximately $23.0 million during the fourth quarter
compared with approximately $17.3 million in the third quarter of 2003, and
approximately $16.9 million in the year-ago quarter.
For fiscal year ended December 31, 2003, the Company reported sales of
approximately $71.3 million, an increase of $25.1 million, or 54.3% from
approximately $46.2 million in 2002. Backlog of approximately $7.5 million at
December 31, 2003 compared to approximately $8.8 million at December 31, 2002.
"We exceeded our sales forecast for the quarter because of growth in new
orders, especially in the Americas," said Simon Raab, President and CEO.
The Company expects to issue its full earnings release for the fourth
quarter and 2003 year in mid-March, 2004.
About FARO:
FARO Technologies, Inc. (Nasdaq: FARO) and its international subsidiaries
design, develop, and market software and portable, computerized measurement
devices. The Company's products allow manufacturers to perform three-
dimensional inspections of parts and assemblies on the shop floor. This helps
eliminate manufacturing errors, and thereby increases productivity and
profitability for a variety of industries in FARO's worldwide customer base.
Principal products include the FARO Gage(TM), Platinum and Titanium
FaroArms(R), Control Station(R) measurement system, the Laser Tracker(R) and a
CAM2(R) family of advanced CAD-based measurement and reporting software. FARO
Technologies is ISO 9001 certified and Guide 25 approved. Learn more at
www.faro.com.
SOURCE FARO Technologies, Inc.
-0- 01/12/2004
/CONTACT: Greg Fraser, EVP & CFO, FARO Technologies, +1-407-333-9911; or
Vic Allgeier of TTC Group, +1-212-227-0997, for FARO Technologies/
/Photo: NewsCom: http://www.newscom.com/cgi-
bin/prnh/20000522/FLM035LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com /
/Web site: http://www.faro.com /
(FARO)
CO: FARO Technologies, Inc.
ST: Florida
IN: AUT MAC STW CPR
SU: