XML 36 R2.htm IDEA: XBRL DOCUMENT v2.4.1.9
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
In Thousands, unless otherwise specified
Mar. 28, 2015
Dec. 31, 2014
Current assets:    
Cash and cash equivalents $ 96,066us-gaap_CashAndCashEquivalentsAtCarryingValue $ 109,289us-gaap_CashAndCashEquivalentsAtCarryingValue
Short-term investments 64,993us-gaap_ShortTermInvestments 64,995us-gaap_ShortTermInvestments
Accounts receivable, net 62,339us-gaap_AccountsReceivableNetCurrent 83,959us-gaap_AccountsReceivableNetCurrent
Inventories, net 66,652us-gaap_InventoryNet 59,334us-gaap_InventoryNet
Deferred income taxes, net 5,860us-gaap_DeferredTaxAssetsNetCurrent 5,936us-gaap_DeferredTaxAssetsNetCurrent
Prepaid expenses and other current assets 17,809us-gaap_PrepaidExpenseAndOtherAssetsCurrent 17,021us-gaap_PrepaidExpenseAndOtherAssetsCurrent
Total current assets 313,719us-gaap_AssetsCurrent 340,534us-gaap_AssetsCurrent
Property and equipment:    
Machinery and equipment 46,067us-gaap_MachineryAndEquipmentGross 45,254us-gaap_MachineryAndEquipmentGross
Furniture and fixtures 5,984us-gaap_FurnitureAndFixturesGross 6,156us-gaap_FurnitureAndFixturesGross
Leasehold improvements 19,658us-gaap_LeaseholdImprovementsGross 19,676us-gaap_LeaseholdImprovementsGross
Property and equipment at cost 71,709us-gaap_PropertyPlantAndEquipmentGross 71,086us-gaap_PropertyPlantAndEquipmentGross
Less: accumulated depreciation and amortization (41,608)us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment (41,741)us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
Property and equipment, net 30,101us-gaap_PropertyPlantAndEquipmentNet 29,345us-gaap_PropertyPlantAndEquipmentNet
Goodwill 25,761us-gaap_Goodwill 19,205us-gaap_Goodwill
Intangible assets, net 16,933us-gaap_FiniteLivedIntangibleAssetsNet 9,109us-gaap_FiniteLivedIntangibleAssetsNet
Service inventory 21,494faro_ServiceInventory 20,646faro_ServiceInventory
Deferred income taxes, net 6,453us-gaap_DeferredTaxAssetsNetNoncurrent 6,624us-gaap_DeferredTaxAssetsNetNoncurrent
Total assets 414,461us-gaap_Assets 425,463us-gaap_Assets
Current liabilities:    
Accounts payable 11,196us-gaap_AccountsPayableCurrent 15,437us-gaap_AccountsPayableCurrent
Accrued liabilities 19,771us-gaap_AccruedLiabilitiesCurrent 26,127us-gaap_AccruedLiabilitiesCurrent
Current portion of unearned service revenues 23,040us-gaap_DeferredRevenueCurrent 23,572us-gaap_DeferredRevenueCurrent
Customer deposits 1,556us-gaap_CustomerDepositsCurrent 2,046us-gaap_CustomerDepositsCurrent
Total current liabilities 55,563us-gaap_LiabilitiesCurrent 67,182us-gaap_LiabilitiesCurrent
Unearned service revenues - less current portion 13,201us-gaap_DeferredRevenueNoncurrent 13,799us-gaap_DeferredRevenueNoncurrent
Deferred income tax liability 2,025us-gaap_DeferredTaxLiabilitiesNoncurrent  
Other long-term liabilities 2,423us-gaap_OtherLiabilitiesNoncurrent 628us-gaap_OtherLiabilitiesNoncurrent
Total liabilities 73,212us-gaap_Liabilities 81,609us-gaap_Liabilities
Commitments and contingencies - See Note 16      
Shareholders' equity:    
Common stock - par value $.001, 50,000,000 shares authorized; 18,057,768 and 17,997,665 issued; 17,377,533 and 17,317,430 outstanding, respectively 18us-gaap_CommonStockValue 18us-gaap_CommonStockValue
Additional paid-in capital 203,599us-gaap_AdditionalPaidInCapital 200,090us-gaap_AdditionalPaidInCapital
Retained earnings 160,180us-gaap_RetainedEarningsAccumulatedDeficit 159,516us-gaap_RetainedEarningsAccumulatedDeficit
Accumulated other comprehensive loss (13,473)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax (6,695)us-gaap_AccumulatedOtherComprehensiveIncomeLossNetOfTax
Common stock in treasury, at cost - 680,235 shares (9,075)us-gaap_TreasuryStockValue (9,075)us-gaap_TreasuryStockValue
Total shareholders' equity 341,249us-gaap_StockholdersEquity 343,854us-gaap_StockholdersEquity
Total liabilities and shareholders' equity $ 414,461us-gaap_LiabilitiesAndStockholdersEquity $ 425,463us-gaap_LiabilitiesAndStockholdersEquity