Key Developments For FARO Technologies Inc
FARO Technologies Inc (FARO.O) (Nasdaq)
FARO Technologies, Inc. Announces Global Reduction in Force of 8%
FARO Technologies, Inc. announced a global reduction in force. This reduction is in addition to previously announced reductions of approximately 21% which occurred during the first quarter of 2009. The reduction, effective immediately, impacts approximately 8% of the Company's current workforce.
FARO Technologies, Inc. Announces Global Reduction In Force Of 14%
FARO Technologies, Inc. announced a global reduction in force driven by continued economic weakness. This reduction is in addition to a 7% reduction announced on February 20, 2009. The reduction, effective immediately, impacts approximately 14% of the Company's workforce across all functions. The Company expects to save approximately $7.4 million on an annual basis and will incur a first quarter charge of approximately $0.5 million related to severance costs.
FARO Technologies, Inc. Announces Global Reduction In Force of 7%
FARO Technologies, Inc. announced a global reduction in force driven by ongoing economic weakness and a continued lack of near term visibility for the business. The reduction, effective immediately, affects approximately 7% of the Company's workforce with the largest cuts coming from manufacturing and administrative functions.
FARO Technologies, Inc. Comments On FY 2009 Revenue Guidance
FARO Technologies, Inc. announced that the Company do not plan to issue specific guidance in fiscal 2009. Based on current economic conditions, it expect fiscal 2009 to be extremely challenging. It is possible that it will experience sales declines during this global recession. The Company reported revenues of $209.2 million in fiscal 2008. According to Reuters Estimates, analysts were expecting the Company to report revenues of $204.93 million for fiscal 2009.
FARO Technologies, Inc. Earns 11-FaroArm Order From Fortune Top 10 Company
FARO Technologies, Inc. announced that it has received an order from a major multinational technology and services conglomerate for 11 Quantum and Platinum FaroArm systems.
