(FARO) - FARO Technologies, Inc - has blown away earnings estimates in the past three quarters by at least 83%

FARO Technologies has blown away earnings estimates in the past three quarters by at least 83%. All three analysts covering the stock have raised their numbers for this year. over the past 90 days, this year's estimates have increased 28.6% to 45 cents per share, while next year's numbers have jumped 18.8% to $1.01 per share. Full Analysis FARO Technologies, Inc. (FARO) engages in the design, development, manufacture, marketing, and support of portable, software driven, and 3-D measurement systems that are used in various manufacturing, industrial, building construction, and forensic applications. The company offers Faro Arm, Faro Scan Arm, Digital Template, and Faro Gage articulated electromechanical measuring devices; Faro Laser Tracker and FARO Laser Scanner LS laser-based measuring devices; and CAM2 software. FARO just reported a 23% increase in third-quarter net income, a 17.8% increase in sales and a 31.2% increase in new order bookings. Net income for the Lake Mary-based computerized measurement devices and software firm totaled $3.2 million, or 22 cents per share, up from $2.6 million, or 18 cents per share, in the year-ago period. This blew away estimates of 12 cents per share. Sales for the third quarter were $38.4 million, up from $32.6 million in the third quarter of 2005. New order bookings for the third quarter were $38.7 million, as compared with $29.5 million in the year-ago quarter. "The Company continues to perform well and the benefits can be seen throughout the income statement and balance sheet," stated Jay Freeland, FARO President and Co-CEO. "Our top-line growth and gross margin remain on plan, and we're getting the leverage we expected from our sales and marketing organization. Market demand has accelerated growth in Europe and Asia while maintaining the strength we've seen in the Americas for the last 18 months. The end result for the third quarter is solid double-digit earnings growth and a $2.0 million increase in cash." FARO has blown away earnings estimates in the past three quarters by at least 83%. All three analysts covering the stock have raised their numbers for this year. over the past 90 days, this year's estimates have increased 28.6% to 45 cents per share, while next year's numbers have jumped 18.8% to $1.01 per share. The stock is currently trading at 20.6x next year's estimate of $1.01 per share, below the projected long-term growth rate of 22.50%, giving the stock a PEG ratio of 0.91. Content Courtesy: Zacks Investment Research #1 Ranked Stocks Highlight Archive To truly take advantage of the Zacks Rank, you need to first understand how it works. That is why we created the free special report: Zacks Rank Guide: Harnessing the Power of Earnings Estimate Revisions. | Blog Home| VitalStocks Home