Faro Technologies: Jumps to 16-month high on earnings beat
20/02/2020 18:30
** Shares of software maker for 3D measurement FARO.O
surge more than 15% to $62.60, a 16-month high
** Co reported Q4 adj EPS of $0.18 on Thursday, beating
estimates it will be flat, according to Refinitiv IBES
urn:newsml:reuters.com:*:nPnl5xL1a
** FARO's Q4 sales were $104.1 mln, beating estimates of
$98.8 mln, according to Refinitiv IBES
** Strategic initiatives to enable an estimated $40 mln in
annualized pre-tax cost savings in Q4 2020 - FARO
** Faro has risen 42% over past 12 months, outperforming the
Nasdaq US small cap software index .NQUSS9537 which is up 14%
(Reporting by Boby Michael in Bengaluru)
((Boby.Michael@thomsonreuters.com;))