Lake Mary, Fla., March 17, 2016 — FARO® Technologies, Inc. (NASDAQ: FARO), the world’s most trusted source for 3D measurement, imaging, and realization technology, announces the launch of the FARO Early Adopter (EA) Program. Under this program, select customers who are faced with accelerating technology cycles can benefit from early access to new FARO products created by our renowned FARO Labs team, or FARO Innovation products. They will also have the unique opportunity to work one-on-one with our FARO Labs engineers on future product improvements and new technologies. Customers can now pre-register for the program under www.faro.com/innovator.
To inaugurate the FARO EA Program, we are proud to announce the first in a long line of FARO Innovation products, the FARO BIM Scan Localizer. The scan-localizer mounts under the FARO Focus3D laser scanner and makes continuous 2D scans to provide detailed registration information, removing the need for reference targets in overlap zones by users executing interior Building Information Modeling (BIM) scans. While moving the FARO Focus3D laser scanner from one location to another, the scan localizer tracks the laser scanner’s location and the 3D scans are effortlessly stitched together to provide a complete interior building scan. This one-of-a-kind solution provides 3D scanning customers with efficiency gains of up to 2-5x over alternative solutions for BIM as-built capture applications.
Early Adopter Program subscribers in select countries can order the FARO BIM Scan Localizer now in advance of a rollout to our broader customer base in the second half of the year. FARO EA Program subscribers will receive a special introductory discount of 20% off the total list price if they order the new FARO BIM Scan Localizer bundled with a new FARO Focus3D Scanner by March 31, 2016.
"Our top priority remains a passionate commitment to innovative and disruptive research and development," stated Dr. Simon Raab, President and CEO of FARO Technologies. "To further increase the value of these investments to our customers, we have decided to provide them early and accelerated access to disruptive products and ultimately provide the customers in our various vertical markets with unique productivity solutions."
"What sets FARO apart is a tremendous passion to provide simpler and more economic measurement solutions for our customers", added Dr. Bernd Becker, Chief Technology Strategist and FARO Labs Director. "Towards that end, we closely observe our customers’ work processes and develop solutions to address the challenges our customers are facing. With this innovative program, our customers have the unique opportunity to benefit from early access to our new innovative products and to interact directly with our FARO Labs engineers to provide direct feedback on product features."
About FARO
FARO is the world’s most trusted source for 3D measurement, imaging and realization technology. The Company develops and markets computer-aided measurement and imaging devices and software. Technology from FARO permits high-precision 3D measurement, imaging and comparison of parts and complex structures within production and quality assurance processes. The devices are used for inspecting components and assemblies, rapid prototyping, documenting large volume spaces or structures in 3D, surveying and construction, as well as for investigation and reconstruction of accident sites or crime scenes. The Company’s global headquarters is located in Lake Mary, FL; its European regional headquarters in Stuttgart, Germany; and its Asia/Pacific regional headquarters in Singapore. FARO has other offices in the United States, Canada, Mexico, Brazil, Germany, the United Kingdom, France, Spain, Italy, Poland, Turkey, the Netherlands, Switzerland, Portugal, India, China, Malaysia, Vietnam, Thailand, South Korea, and Japan. More information is available at http://www.faro.com
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties, such as statements about demand for and customer acceptance of FARO’s products, and FARO’s product development and product launches. Statements that are not historical facts or that describe the Company’s plans, objectives, projections, expectations, assumptions, strategies, or goals are forward-looking statements. In addition, words such as "is," "will" and similar expressions or discussions of FARO’s plans or other intentions identify forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to various known and unknown risks, uncertainties, and other factors that may cause actual results, performances, or achievements to differ materially from future results, performances, or achievements expressed or implied by such forward-looking statements. Consequently, undue reliance should not be placed on these forward-looking statements.
Factors that could cause actual results to differ materially from what is expressed or forecasted in such forward-looking statements include, but are not limited to:
• development by others of new or improved products, processes or technologies that make the Company’s products less competitive or obsolete;
• the Company’s inability to maintain its technological advantage by developing new products and enhancing its existing products;
• declines or other adverse changes, or lack of improvement, in industries that the Company serves or the domestic and international economies in the regions of the world where the Company operates and other general economic, business, and financial conditions; and
• other risks detailed in Part I, Item 1A. Risk Factors in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.
Forward-looking statements in this release represent the Company’s judgment as of the date of this release. The Company undertakes no obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, unless otherwise required by law.
