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Ouch, that was bad.

LAKE MARY, Fla., Oct. 31, 2012 /PRNewswire/ -- FARO Technologies, Inc. (FARO) today announced results for the third quarter ended September 29, 2012. Sales in the third quarter of 2012 decreased 6.3% to $60.7 million, from $64.8 million in the third quarter of 2011. The Company reported net income decreased to $3.7 million, or $0.21 per share, in the third quarter of 2012, from $6.4 million, or $0.38 per share, in the third quarter of 2011.

A decline in sales is very far from the 20 to 25% annual increase that CEO had predicted entering the year. I imagine the Trimble distribution deal should kick in during Q4 but will that be enough to offset other challenges?

I'm not sure who is out there following Faro. I have not had the time to try to figure out if the decline is due to hopefully short term elements like Europe or long term problems like better competition. Any one have insights?

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