FARO Recognized as One of Fortune's 100 Fastest-Growing Companies
LAKE MARY, Fla., Sept. 11, 2013 /PRNewswire/ -- FARO Technologies, Inc. (Nasdaq: FARO), the world's most trusted source for 3D measurement technology, has been named by Fortune Magazine as one of the 100 Fastest-Growing Companies.
Fortune developed the list by selecting companies based on revenue growth rates, EPS growth rates and three-year annualized return for the period ending June 28, 2013.
FARO ranked No. 85 with revenue growth of 23%, profit growth of 98%, and a total return of 22%. With $274M in revenue, $20.8M in net income and close to 180M in cash FARO has substantial capacity for even further growth.
"To be recognized on this prestigious list is a great honor and it speaks volumes about the dedication of our employees, satisfaction of our customers, and the exciting road ahead," FARO President and CEO Jay Freeland said. "We will remain steadfast in our commitment to innovate, expand, and attract the best and brightest talent. Our product pipeline is stronger than ever and we are certainly well-positioned to keep on growing."
FARO is the world's most trusted source for 3D measurement technology. The Company develops and markets computer-aided measurement and imaging devices and software. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and compound structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, production planning, documenting large volume spaces or structures in 3D, surveying and construction, as well as for investigation and reconstruction of accident sites or crime scenes.
Worldwide, approximately 15,000 customers are operating more than 30,000 installations of FARO's systems. The Company's global headquarters is located in Lake Mary, Fla., its European head office in Stuttgart, Germany and its Asia/Pacific head office in Singapore. FARO has branches in Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Netherlands, India, China, Singapore, Malaysia, Vietnam, Thailand and Japan.
SOURCE FARO Technologies, Inc.