Faro reports good results for 2007
Portable co-ordinate measuring machine specialist Faro reports "outstanding company figures" for the 2007 fiscal year.
Sales were $191.6 million ($152.4 million in 2006), an increase of 25.7 per cent; incoming orders were $197.8 million, an increase of 21.8 per cent compared to the prior year's $162.4 million; net income was $18.1 million compared to the $8.2 million in the previous year; gross margin was 60.0 per cent, up 1.3 per cent on 2006; R&D expenses were $10.3 million, an increase of $3.1 million on 2006's $7.2 million.
The increase in R&D expenditure was mainly attributable to the market launch of the Quantum FaroArm and Fusion FaroArm.
