|
FARO TECHNOLOGIES, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
|
| |||||||
|
(in thousands, except share data) |
March 31,
|
|
December 31,
| ||||
|
ASSETS |
|
|
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|
Current assets: |
|
|
| ||||
|
Cash and cash equivalents |
$ |
138,826 |
|
|
$ |
140,960 |
|
|
Short-term investments |
10,957 |
|
|
10,997 |
| ||
|
Accounts receivable, net |
71,631 |
|
|
72,105 |
| ||
|
Inventories, net |
58,376 |
|
|
53,786 |
| ||
|
Prepaid expenses and other current assets |
19,119 |
|
|
16,311 |
| ||
|
Total current assets |
298,909 |
|
|
294,159 |
| ||
|
Property and equipment: |
|
|
| ||||
|
Machinery and equipment |
69,355 |
|
|
66,514 |
| ||
|
Furniture and fixtures |
6,853 |
|
|
6,945 |
| ||
|
Leasehold improvements |
20,230 |
|
|
19,872 |
| ||
|
Property and equipment at cost |
96,438 |
|
|
93,331 |
| ||
|
Less: accumulated depreciation and amortization |
(64,907) |
|
|
(61,452) |
| ||
|
Property and equipment, net |
31,531 |
|
|
31,879 |
| ||
|
Goodwill |
54,511 |
|
|
52,750 |
| ||
|
Intangible assets, net |
25,399 |
|
|
22,540 |
| ||
|
Service and sales demonstration inventory, net |
41,703 |
|
|
39,614 |
| ||
|
Deferred income tax assets, net |
15,738 |
|
|
15,606 |
| ||
|
Other long-term assets |
2,861 |
|
|
2,030 |
| ||
|
Total assets |
$ |
470,652 |
|
|
$ |
458,578 |
|
|
LIABILITIES AND SHAREHOLDERS' EQUITY |
|
|
| ||||
|
Current liabilities: |
|
|
| ||||
|
Accounts payable |
$ |
11,145 |
|
|
$ |
11,569 |
|
|
Accrued liabilities |
24,367 |
|
|
27,362 |
| ||
|
Income taxes payable |
2,104 |
|
|
4,676 |
| ||
|
Current portion of unearned service revenues |
30,976 |
|
|
29,674 |
| ||
|
Customer deposits |
2,456 |
|
|
2,604 |
| ||
|
Total current liabilities |
71,048 |
|
|
75,885 |
| ||
|
Unearned service revenues - less current portion |
12,531 |
|
|
11,815 |
| ||
|
Deferred income tax liabilities |
700 |
|
|
695 |
| ||
|
Income taxes payable - less current portion |
15,952 |
|
|
15,952 |
| ||
|
Other long-term liabilities |
2,092 |
|
|
2,165 |
| ||
|
Total liabilities |
102,323 |
|
|
106,512 |
| ||
|
Commitments and contingencies |
|
|
| ||||
|
Shareholders' equity: |
|
|
| ||||
|
Common stock - par value $.001, 50,000,000 shares authorized; 18,416,020 and
|
18 |
|
|
18 |
| ||
|
Additional paid-in capital |
231,209 |
|
|
223,055 |
| ||
|
Retained earnings |
171,444 |
|
|
168,624 |
| ||
|
Accumulated other comprehensive loss |
(2,608) |
|
|
(7,822) |
| ||
|
Common stock in treasury, at cost; 1,460,341 and 1,480,258 shares, respectively |
(31,734) |
|
|
(31,809) |
| ||
|
Total shareholders' equity |
368,329 |
|
|
352,066 |
| ||
|
Total liabilities and shareholders' equity |
$ |
470,652 |
|
|
$ |
458,578 |
|
