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FARO Reports Second Quarter 2013 Results

LAKE MARY, Fla., July 30, 2013 /PRNewswire via COMTEX/ -- FARO Technologies, Inc. FARO +1.66% today announced results for the second quarter ended June 29, 2013. Sales in the second quarter of 2013 increased to $68.3 million, from $66.8 million in the second quarter of 2012. The Company reported net income of $3.6 million, or $0.21 per share, in the second quarter of 2013, compared to $4.7 million, or $0.28 per share, in the second quarter of 2012. EPS came in at $0.21. The three earnings estimates compiled by S&P Capital IQ predicted $0.29 per share.

New order bookings for the second quarter of 2013 were $66.7 million, a decrease of 6.1% from $71.0 million in the second quarter of 2012.

Gross margin for the second quarter of 2013 was 54.0%, compared to 55.5% in the second quarter of 2012. Gross margins were slightly lower primarily due to lower average selling prices for certain metrology products.

Wish it was better, but at least it closed up $0.61 for today. Aug 1st

Charlie
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