LAKE MARY, Fla., Aug. 22, 2018 — (PRNewswire) — FARO® (NASDAQ: FARO), the world's most trusted source for 3D measurement and imaging solutions for factory metrology, product design, construction BIM, public safety forensics and 3D machine vision, announces the release of the next generation of the Tracer platform for laser-guided assembly and verification, the TracerSI Advanced Laser Projection System. TracerSI is a fully integrated, optimized solution that includes both innovative, improved hardware built upon the very successful TracerM product and the best-in-class BuildIT Projector software ( https://www.faro.com/laser-projector).
Like its predecessor, TracerM, TracerSI uses 3D Computer Aided Design (CAD) information to project 3D laser images onto a physical surface and provides a live, visually rich virtual template which assemblers can use to quickly position components with precision and complete confidence. This solution can deliver significant ROI as organizations no longer have to invest capital in physical templates i.e., wood or metal mold or tools which also have to be built, maintained, stored or even repaired. Additionally, real time manufacturing errors are minimized and, as a result, costly scrap and reworks costs are reduced. There are actual, documented cases where rework and scrap savings alone have payback periods as short as 90 days.
TracerSI will transform 2D imagery and its use in every industrial application as it represents the first of its kind laser scanning camera, with projection and high-resolution image scanning capabilities throughout its entire projection volume. Since the laser scanning camera does not rely on lenses or conventional image capture, the depth of field is equal to the full projection range, there are no lighting limitations since it is laser illuminated, and there are no limitations on frame size and resolution. This combination of laser scanning imagery and high accuracy projection establishes a new industry standard for repeatable laser-guided assembly.
Fast Setup with Feature Alignment
TracerSI moves guidance assembly one major step forward through its native support of feature based alignment. With feature based alignment, retroreflectors i.e., special targets that reflect light back to the original source, do not have to be placed on or around the object or assembly. This substantially reduces the time required for setup. Next, to synchronize alignment, the system performs high resolution image scans of the part or assembly to match known features (holes, edges, etc.) to the CAD model.
Enhanced Efficiency with In Process Verification
TracerSI is the first laser projector that enables In-Process Verification, or IPV. IPV uses the advanced laser scanning camera in conjunction with BuildIT projector software to perform quality checks. Throughout the assembly process, at any point, users can quickly run an image-based quality check and confidently take any corrective or preventive actions to facilitate the end to end assembly process. This includes the ability to detect presence or absence of features during the assembly process or at final assembly. Additionally, at any point, loose fragments can be detected and cared for with the distinctive Foreign Object Debris (FOD) feature.
"We continue to build upon the expertise that we acquired through our acquisition of Laser Projection Technologies in 2016," states Pete Edmonds, Vice President Factory Metrology. "Our initial focus was towards building a better laser projection product but key learnings from the market indicated that there was a need for laser projection system that combined hardware and software in a tightly-aligned, repeatable solution. By integrating the BuildIT Projector software with the Project and Inspect TracerSI hardware platform, we have taken another major step forward in realizing our vision with the scanning laser camera to be the undisputed solution leaders across the end-to-end build by projection and inspection market."
About FARO
FARO is the world's most trusted source for 3D measurement, imaging and realization technology. The Company develops and markets computer-aided measurement and imaging devices and software for the following vertical markets:
- Factory Metrology - High-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes
- Construction BIM - 3D capture of as-built construction projects and factories to document complex structures and perform quality control, planning and preservation
- Public Safety Forensics - Capture and analysis of on-site real world data to investigate crash, crime and fire, plan security activities and provide virtual reality training for public safety personnel
- Product Design - Capture detailed and precise 3D data from existing products permitting CAD analysis and redesign, after market design and legacy part replication
- 3D Machine Vision - 3D vision for both control and measurement to the manufacturing floor through 3D sensors and custom solutions
FARO's global headquarters is located in Lake Mary, Florida. The Company's European regional headquarters is located in Stuttgart, Germany and its Asia-Pacific regional headquarters is located in Singapore. FARO has other offices in the United States, Canada, Mexico, Brazil, Germany, the United Kingdom, France, Spain, Italy, Poland, Turkey, the Netherlands, Switzerland, India, China, Malaysia, Thailand, South Korea, Japan, and Australia.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties, such as statements about demand for and customer acceptance of FARO's products, and FARO's product development and product launches. Statements that are not historical facts or that describe the Company's plans, objectives, projections, expectations, assumptions, strategies, or goals are forward-looking statements. In addition, words such as "is," "will" and similar expressions or discussions of FARO's plans or other intentions identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to various known and unknown risks, uncertainties, and other factors that may cause actual results, performances, or achievements to differ materially from future results, performances, or achievements expressed or implied by such forward-looking statements. Consequently, undue reliance should not be placed on these forward-looking statements.
Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include, but are not limited to:
- development by others of new or improved products, processes or technologies that make the Company's products less competitive or obsolete;
- the Company's inability to maintain its technological advantage by developing new products and enhancing its existing products;
- declines or other adverse changes, or lack of improvement, in industries that the Company serves or the domestic and international economies in the regions of the world where the Company operates and other general economic, business, and financial conditions; and
- other risks detailed in Part I, Item 1A. Risk Factors in the Company's Annual Report on Form 10-K for the year ended December 31, 2017 and in Part II, Item 1A. Risk Factors in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2018.
Forward-looking statements in this release represent the Company's judgment as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, unless otherwise required by law.
More information is available at http://www.faro.com
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