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 | $ 79,919 |
| $ 37,812 |
Accounts receivable, net | 88,363 |
| 90,326 |
Inventories, net | 40,095 |
| 50,026 |
Prepaid expenses and other current assets | 37,325 |
| 41,201 |
Total current assets | 245,702 |
| 219,365 |
Non-current assets: |
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Property, plant and equipment, net | 22,207 |
| 19,720 |
Operating lease right-of-use assets | 12,521 |
| 18,989 |
Goodwill | 106,873 |
| 107,155 |
Intangible assets, net | 46,999 |
| 48,978 |
Service and sales demonstration inventory, net | 22,662 |
| 30,904 |
Deferred income tax assets, net | 24,093 |
| 24,192 |
Other long-term assets | 4,047 |
| 4,044 |
Total assets | $ 485,104 |
| $ 473,347 |
LIABILITIES AND SHAREHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable | $ 23,408 |
| $ 27,286 |
Accrued liabilities | 24,994 |
| 23,345 |
Income taxes payable | 12,083 |
| 6,767 |
Current portion of unearned service revenues | 34,493 |
| 36,407 |
Customer deposits | 5,237 |
| 6,725 |
Lease liabilities | 5,258 |
| 5,709 |
Total current liabilities | 105,473 |
| 106,239 |
Loan - 5.50% Convertible Senior Notes | 72,604 |
| — |
Unearned service revenues - less current portion | 20,893 |
| 20,947 |
| Lease liabilities - less current portion | 11,495 |
| 14,649 |
| Deferred income tax liabilities | 11,497 |
| 11,708 |
| Income taxes payable - less current portion | 4,020 |
| 8,706 |
| Other long-term liabilities | 30 |
| 49 |
| Total liabilities | 226,012 |
| 162,298 |
| Commitments and contingencies |
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| Shareholders' equity: |
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| Common stock - par value $0.001, 50,000,000 shares authorized;
| 20 |
| 20 |
| Additional paid-in capital | 340,414 |
| 328,227 |
| Retained earnings | (11,377) |
| 46,788 |
| Accumulated other comprehensive loss | (39,310) |
| (33,331) |
| Common stock in treasury, at cost - 1,374,692 and 1,376,220 shares held,
| (30,655) |
| (30,655) |
| Total shareholders' equity | 259,092 |
| 311,049 |
| Total liabilities and shareholders' equity | $ 485,104 |
| $ 473,347 |
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FARO Announces Third Quarter Financial Results
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