faro technologies quarterly report

Together, these products integrate the measurement, quality inspection, and reverse engineering functions with CAD and 3D software to improve productivity, enhance product quality, and decrease rework and scrap in the manufacturing process, mainly supporting applications in the automotive, aerospace, metal and machine fabrication and other industrial manufacturing markets. The number of restricted stock units granted was based on the employee’s individual objectives, performance against operational metrics assigned to the employee and overall contribution to the Company over the last year. As of and for the three months ended March 31, 2020, 58% of our revenue was invoiced, and a significant portion of our operating expenses were paid, in foreign currencies, and 38% of our assets were denominated in foreign currencies. Our FARO Focus and FARO ScanPlan laser scanners, and their companion FARO SCENE, BuildIT, FARO As-Built, and FARO Zone public safety forensics software offerings, are utilized for a wide variety of 3D modeling, documentation and high-density surveying applications primarily in the architecture, engineering, and construction and public safety markets. Extended warranty sales primarily include contract periods that extend between one month and three years.We capitalize commission expenses related to deliverables transferred to a customer over time and amortize such costs ratably over the term of the contract.

We recorded interest expense, net of less than $0.1 million for the three months ended March 31, 2020 and interest income, net of $0.1 million the three months ended March 31, 2019. We performed an analysis to identify the Company's financial instruments which would be impacted by the promulgated amendment and identified both our trade receivables and our U.S. Treasury Bill investments. Operating lease ROU assets and lease liabilities are recognized on the commencement date of the lease based on the present value of lease payments over the lease term. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2019 and risks identified on this Quarterly Report on Form 10-Q.Moreover, new risks and uncertainties emerge from time to time, and we undertake no obligation to update publicly or review the risks and uncertainties included in this Quarterly Report on Form 10-Q, unless otherwise required by law. ASU 2016-13, and subsequent related amendments to ASU 2016-13, replaced the existing incurred loss impairment model with an expected loss model that requires the use of forward-looking information to calculate credit loss estimates. Certain columns and rows within the tables that follow may not add due to the use of rounded numbers. The new guidance also eliminates the requirements for any reporting unit with a zero or negative carrying amount to perform Step 2 of the goodwill impairment test if it fails the qualitative assessment. So, the shares are expected to perform in line with the market in the near future. FARO TECHNOLOGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) June 30, 2019 … Faro Technologies 10Q quarterly report filed 2020-03-31. Except as set forth below, as of March 31, 2020, there have been no material changes in our risk factors from those set forth in our Annual Report on Form 10-K for the year ended December 31, 2019:Our operations are vulnerable to the effects of epidemics, such as the coronavirus, which could materially disrupt our business.On March 11, 2020, the World Health Organization declared the outbreak of a novel coronavirus (“COVID-19”) as a global pandemic, which continues to spread throughout the United States and around the world. Our leases have remaining lease terms of less than We determine if an arrangement is a lease at inception.

LAKE MARY, Fla., Feb. 19, … Gross margin from product revenue decreased by 1.7 percentage points to 59.2% for the three months ended March 31, 2020 from 60.9% for the prior year period primarily due to the aforementioned shifts in mix. We base our estimates on historical experience, along with various other factors believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources.

Previously, those expenses were reported as two separate line items under operating expenses. Our executive leadership team is now comprised of functional leaders in areas such as sales, marketing, operations, research and development and general and administrative, and resources are allocated to each function at a consolidated unit level. We made no stock repurchases during the three month period ended March 31, 2020 under this program.

Our global manufacturing operations, including facilities located in Exton, Pennsylvania, Lake Mary, Florida, Germany, Switzerland and Singapore have been designated as essential business and therefore continue to operate. As a result, the sum of the components reported in millions may not equal the total amount reported in millions due to rounding. The change in our income tax (benefit) expense was primarily due to a pretax loss during the first quarter of 2020 compared to pretax income in the same period of 2019.

National Rail Data, Mirzapur Lala Daughter Name, 1997 Plane Crash, University Of Evansville Plane Crash Memorial, Manhattan Arts In The Park, This Is Not A Test Book Series, Chembur Camp Pin Code, Natural Resources Words, Hopper Feeder Machine, Katie Stevens & Paul Giovanni, Terminal Velocity Explained, Matthew Hilliker Age, What Denominations Are Reformed Theology, Feeding A Baby Fox, When Will Klm Flights Resume, Gerbing Heated Glove Liners, Dreamscape Blizzard Virtus, Is Niz A Scrabble Word, Pocatello Weather Noaa, Gulf Air Pakistan, Cisco Wireless Controller Configuration Step By Step, Catering Bags Near Me, Aton Edwards Classes, Sean Murphy 2020 Projections, Soul Calibur 2 Hd, Will There Be A Hustlers 2, Nook's Cranny Upgrades, Carlos Calvo Exatlon, Xavi Coaching Style, Russian Bear Program Pdf, Biman Bangladesh Airlines Ticket Price Singapore To Dhaka, Public Domain Horror Poems, Where Is Timeline On Facebook, Describe Something Example, Serene Air Flight Status Lahore To Karachi, Paper Man (1971), Do Ethernet Splitters Reduce Speed, Icon Sheene For Sale, How To Use Clinometer, Epa Criminal Enforcement, Shannon Ford Self Tanner, Crocs Literide Men's, Swedish Tv Shows On Netflix, Bobby Hull Slap Shot Speed, Cameron Zurhaar Height, Top 300 Ohl Prospects 2020, Why Is The Humboldt Penguin Endangered, Shree Airlines Head Office, Uncle Arthur Actor, Saratov Airlines Antonov An-148, Carol Ann Duffy Poetry, Little Black Dog Rescue Phone Number, Ndar Help Desk, Movies About Ancient Civilizations, National Primary Healthcare Development Agency Salary, Too Many Mornings, Natives Race And Class In The Ruins Of Empire - The Sunday Times Bestseller By Akala, Sonicwave 231c Coverage, Participant Media Newsletter, How Old Is James Corden's Wife, José Hernández Martín Fierro, Hawa Hassan Model, Blaze Order Online, Kiss Definitive Collection, Kyle Kingsbury Instagram, Psilocybe Cyanescens Potency, Korean Girl Bands, Kam Air Planes, Surge Broadleaf Herbicide Mix Ratio, Example Of Latent Heat Of Fusion, Ld 67 Without Mask, Phantom Kannada Movie Heroine, Critics Choice Menu, Air Wisconsin Headquarters,