FARO has also reported a 25.7% sales growth for its 2007 fiscal year. with sales of $191.6 million compared to $152.4 million in 2006 and a net income of $18.1 million ($8.2 million 2006). R&D expenditure increased to $10.3 million up from $7.2 in 2006.
“2007 was once again a highly successful year for FARO. Not only were we able to outstrip our target for annual growth of 20-25% with a sales increase of 25.7%, but last year was also marked by high productivity and a host of new and important products. Other product innovations will follow in 2008 – this will enable us to press ahead with our growth despite the increasing global economic pressure,” sums up Siggi Buss, managing director of FARO Europe.
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