BNET Industries

FARO Technologies Inc.

(FARO) is in the Technology Industry

Market Cap:$314.9M
Last Fiscal Year Sales:$191.6M
  • Public
  • US
Dow Jones Description

FARO was founded in 1982 by Simon Raab and Greg Fraser who met while completing their PhD work at Mc Gill University in Montreal, Canada. After two years of development FARO launched three medical/surgical products based on its articulated arm measurement technology in 1984, 1986 and 1988 respectively. The company moved from Montreal to Lake Mary, Florida in 1990 and shortly after that the Company was asked to develop a larger, more robust version of its technology for use as a portable quality control tool for manufacturers. By 1994 FARO had completely transitioned from the medical markets to the much larger worldwide industrial manufacturing market. On the basis of strong sales and profit growth and the large underserved market, FARO went public in 1997 and its shares began trading on the NASDAQ exchange under the symbol FARO. Faro acquired three companies in 1998, 2002 and 2005 to broaden its worldwide distribution and to expand its product lines into laser based inspection technology. FARO is a pioneer and leader in the worldwide Computer-Aided Measurement market.

President & Chief Executive Officer
Jay W. Freeland
Number of Employees 959
Contact Information

125 Technology Park

Lake Mary, Florida 32746-6204

faro.com

(407) 333-9911

NAICS Code Other Measuring and Controlling Device Manufacturing: 334519

Recent Events

  • Faro Technologies loses $1.3 million in 3Q

    11/05/09 - Financial Announcement - View Story

  • FARO Releases 3D Laser Tracker ION for Measurement

    9/23/09 - Product Announcement - View Story

  • FARO Introduces World's Most Accurate Large Volume Laser Tracker

    9/22/09 - Product Announcement - View Story

  • FARO Cuts Work Force by 8%

    8/25/09 - Financial Announcement - View Story

  • FARO Names Lynn Brubaker to Board

    7/30/09 - Board Member - Entering - View Story

  • FARO Technologies Inc. Q2 2009 Earnings Call Transcript

    7/31/09 - Financial Announcement - View Story

News & Analysis

faro technologies inc. - All News and Analysis

  • FARO Technologies, Q2 2008 Earnings Call Transcript

    Seeking Alpha - 2008-07-30

    Question-and-Answer SessionOperator Instructions We'll take our first question from Mark Jordan from Noble Finance. Please go ahead. Mark Jordan - Noble Financial Group Good morning gentlemen, first a question relative to G&A expense. You mentioned a couple of reasons why it was higher. Could you quantify what was the...

    Tags: FARO Technologies Inc.

  • FARO Technologies Q1 2008 Earnings Call Transcript

    Seeking Alpha - 2008-05-13

    Question-and-Answer SessionOperator Very good. Operator Instructions. We’ll take a question from the site of Mark Jordan of Noble Financial). Mark Jordan - Noble Financial Good morning Jay. Jay Freeland Morning. Mark Jordan - Noble Financial Question relative initially to selling expense. Obviously over 31% is fairly...

    Tags: FARO Technologies Inc.

  • FARO Technologies Q4 2007 Earnings Call Transcript

    Seeking Alpha - 2008-02-18

    Question-and-Answer SessionOperator Operators instructions. We can pause a moment to allow questions to queue. Our first question comes from Mark Jordan with Noble Financial. Mark Jordan - Noble Financial Good morning gentlemen. Congratulations on a good end to the year. Vic Allgeier Thanks Mark. Keith Bair Thanks Mark....

    Tags: FARO Technologies Inc.

  • FARO's Exclusive SENSOR Probe by Renishaw Improves Productivity, Data Confidence.

    - 2007-12-05

    FRANKFURT, Germany, December 5 /PRNewswire/ -- FARO Technologies, Inc. (Nasdaq: FARO), the world sales leader in portable computer-aided measurement arms and laser trackers, announced that its strategic alliance with Renishaw has produced the FARO SENSOR, an advanced probe for measurement arms that increases user...

    Tags: FARO Technologies Inc., Renishaw Plc.

  • FARO Vindicated by Mistrial Verdict in Patent Infringement Suit.

    - 2006-12-07

    LAKE MARY, Florida, December 7 /PRNewswire/ -- FARO Technologies, Inc. (Nasdaq: FARO) today announced that the judge presiding over the ongoing '148 patent infringement case filed by Hexagon, AB, the Company's largest competitor, has declared a mistrial. "The court's decision makes...

    Tags: FARO Technologies Inc., Hexagon AB

Decision Makers

Name (plus bio) Position
Jay W. Freeland President & Chief Executive Officer
Jim West Chief Technical Officer
Keith S. Bair Senior Vice President and Chief Financial Officer
Tony Hughes Chief Information Officer
John E. Townsley Senior Vice President, HR
David Morse Senior Vice President and Managing Director for the Americas
Siegfried K. Buss Senior Vice President and Managing Director for Europe
Stephen C. Garwood Managing Director, Asia Pacific & Senior Vice President
Darin Sahler Global PR Manager

Board of Directors

Name (plus bio) Position
Andre Julien Board of Directors
Hubert d'Amours Board of Directors
Hurbert Damours Board of Directors
John Donofrio Board of Directors
John E. Caldwell Board of Directors
Marvin R Sambur Board of Directors
Norman H. Schipper Board of Directors
Simon Raab Board of Directors
Stephen R. Cole Board of Directors

Organization Position Status
FARO Technologies, Inc. President & Chief Executive Officer Current
FARO Technologies, Inc. Board of Directors Current
Union College Bachelor of Arts In Economics Former

Organization Position Status
FARO Technologies, Inc. Chief Technical Officer Current
University of Illinois Master of Science In Electrical Engineering Former
University of Illinois Bachelor of Science In Electrical Engineering Former

Organization Position Status
FARO Technologies, Inc. Senior Vice President and Chief Financial Officer Current
Stromberg LLC Chief Financial Officer Former
Xytrans Corporation Vice President of Finance Former
Gencor Industries, Inc. Controller Former
Stromberg LLC Controller Former
Xytrans Corporation Controller Former

Organization Position Status
FARO Technologies, Inc. Chief Information Officer Current

Organization Position Status
FARO Technologies, Inc. Senior Vice President, HR Current
Murray State University Bachelor of Science In Management Former
Danaher Corporation Former

Organization Position Status
FARO Technologies, Inc. Senior Vice President and Managing Director for the Americas Current
University of North Texas Bachelor of Science Former

Organization Position Status
FARO Technologies, Inc. Senior Vice President and Managing Director for Europe Current
FARO Technologies, Inc. Publisher Current

Organization Position Status
FARO Technologies, Inc. Managing Director, Asia Pacific & Senior Vice President Current

Organization Position Status
FARO Technologies, Inc. Global PR Manager Current

Organization Position Status
FARO Technologies, Inc. Board of Directors Current

Organization Position Status
FARO Technologies, Inc. Board of Directors Current

Organization Position Status
FARO Technologies, Inc. Board of Directors Current

Organization Position Status
FARO Technologies, Inc. Board of Directors Current

Organization Position Status
Amd Focus Choose Language President and Chief Executive Officer and Member of the Board of Smtc Corporation Current
SMTC Corporation Chief Executive Officer Current
SMTC Corporation President Current
SMTC Corporation Board of Directors Current
Cognos Inc. Board of Directors Current
FARO Technologies, Inc. Board of Directors Current
Rothmans Inc. Board of Directors Current
ATI Technologies, Inc. Board of Directors Current
Advanced Micro Devices, Inc. Board of Directors Current
CAE Inc. President and Chief Executive Officer Former
Geac Chief Executive Officer Former
Extensity Chief Executive Officer Former
The Directors College President and CEO, Smtc Corporation Former
Extensity President Former
Geac President Former
Bain Capital, LLC Vice President Former
Bain Capital, LLC Managing Director Former
Extensity consultant Former
U.S. Steel Canada Board of Directors Former
Morguard Corporation member Former

Organization Position Status
FARO Technologies, Inc. Board of Directors Current
Bell Laboratories Former

Norman Schipper, Q.C. has been a director of the Company since its inception in 1982. Mr. Schipper attended the University of Toronto (B.A., Hons., 1951), University of Toronto Faculty of Law (LL.B., 1954), and Osgoode Hall Law School (1956). He was admitted to the bar in Ontario in 1956 and from 1962 until his retirement as Partner on December 31, 1997, Mr. Schipper was a Partner in the Toronto office of the law firm of Goodmans, LLP. Since 1998, Mr. Schipper has been Of Counsel to the firm. Mr. Schipper is past Chair of The Baycrest Centre for Geriatric Care and of The Baycrest Foundation and a Co-Chair of the Research Advisory Committee at Baycrest Centre for Geriatric Care. He also is a director of the Pine Bay Foundation, a foundation operating a camp for autistic and Tourette Syndrome children, serves on the Board of various private corporations, and is a director and Past Chair of the Board of Directors of the Ontario Region of the Nature Conservancy of Canada.

Organization Position Status
Goodmans, Inc. Partner Current
FARO Technologies, Inc. Board of Directors Current
Camp Winston Vice Chairman Current
University of Toronto Bachelor of Arts With Honors Former
Osgoode Hall Law School Former

Organization Position Status
FARO Technologies, Inc. Board of Directors Current
FARO Technologies, Inc. Chairman & CEO Former
McGill University Ph.D. In Mechanical Engineering Former
Montreal.Com Ph.D. In Mechanical Engineering Former
University of Waterloo Bachelor of Science In Physics Former

Organization Position Status
Cole & Partners President Current
American Society of Appraisers Board of Directors Current
FARO Technologies, Inc. Board of Directors Current
American Society of Appraisers Senior Member Current
Toronto.Com President Current

Executive News

  • FARO Cuts Work Force by 8%

    Photonics - 8/25/09 - View Story

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     FARO $19.56 +0.40 (2.09% )
Intraday | 3 Month | 6 Month | 1 Year
Average Volume 59,900
Shares Outstanding 16.10M
Market Cap 315.0M
Year High 20
Year Low 10.845
Earnings Per Share -0.49
P/E Ratio -39.92
Dividend N/A
Yield N/A
IndustryTop Rated

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