LAKE MARY, Fla. (AP) _ Faro Technologies Inc. (FARO) on Wednesday reported fourth-quarter net income of $27.4 million, after reporting a loss in the same period a year earlier.
The Lake Mary, Florida-based company said it had net income of $1.52 per share. Earnings, adjusted for one-time gains and costs, came to 35 cents per share.
The computer-aided measurement and imaging devices and software company posted revenue of $93 million in the period.
For the year, the company reported net income of $629,000, or 4 cents per share, swinging to a profit in the period. Revenue was reported as $303.8 million.
Faro Technologies shares have climbed 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $78, an increase of 43% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FARO at https://www.zacks.com/ap/FARO
Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News