FARO TECHNOLOGIES, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (UNAUDITED) | |||
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(in thousands, except share and per share data) | December 31,
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| December 31,
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ASSETS |
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Current assets: |
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Cash and cash equivalents | $ 37,812 |
| $ 121,989 |
Accounts receivable, net | 90,326 |
| 78,523 |
Inventories, net | 50,026 |
| 53,145 |
Prepaid expenses and other current assets | 41,201 |
| 19,793 |
Total current assets | 219,365 |
| 273,450 |
Non-current assets: |
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Property, plant and equipment, net | 19,720 |
| 22,194 |
Operating lease right-of-use asset | 18,989 |
| 22,543 |
Goodwill | 107,155 |
| 82,096 |
Intangible assets, net | 48,978 |
| 25,616 |
Service and sales demonstration inventory, net | 30,904 |
| 30,554 |
Deferred income tax assets, net | 24,192 |
| 21,277 |
Other long-term assets | 4,044 |
| 2,010 |
Total assets | $ 473,347 |
| $ 479,740 |
LIABILITIES AND SHAREHOLDERS' EQUITY |
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Current liabilities: |
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Accounts payable | $ 27,286 |
| $ 14,199 |
Accrued liabilities | 23,345 |
| 28,208 |
Income taxes payable | 6,767 |
| 4,499 |
Current portion of unearned service revenues | 36,407 |
| 40,838 |
Customer deposits | 6,725 |
| 5,399 |
Lease liability | 5,709 |
| 5,738 |
Total current liabilities | 106,239 |
| 98,881 |
Unearned service revenues - less current portion | 20,947 |
| 22,350 |
Lease liability - less current portion | 14,649 |
| 18,648 |
Deferred income tax liabilities | 11,708 |
| 1,058 |
Income taxes payable - less current portion | 8,706 |
| 11,297 |
Other long-term liabilities | 49 |
| 1,047 |
Total liabilities | 162,298 |
| 153,281 |
Common stock - par value $0.001, 50,000,000 shares authorized; 20,156,233 and
| 20 |
| 20 |
Additional paid-in capital | 328,227 |
| 301,061 |
Retained earnings | 46,788 |
| 73,544 |
Accumulated other comprehensive loss | (33,331) |
| (17,374) |
Common stock in treasury, at cost - 1,376,220 and 1,382,367 shares held, respectively | (30,655) |
| (30,792) |
Total shareholders' equity | 311,049 |
| 326,459 |
Total liabilities and shareholders' equity | $ 473,347 |
| $ 479,740 |
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