FARO Named to Forbes’ List of America’s 25 Fastest-Growing Tech Companies
In order to make the Forbes list, companies must have at least 10 percent annualized sales gains over the past five year.
Posted: February 5, 2008
FARO Technologies, Inc. (Nasdaq: FARO), a manufacturer of portable computer-aided measurement hardware and software, has been named to Forbes Magazine’s list of America’s 25 Fastest-Growing Tech Companies.
“It is truly an honor to be listed among industry powerhouses like Google, Red Hat, and Adobe,” FARO President and chief executive officer Jay Freeland said. “The credit goes to all of our employees around the world. It’s their hard work and never-ending passion for FARO that drives our results and ultimately, the opportunity to be recognized like this.”
In order to make the Forbes list, companies must have at least 10 percent annualized sales gains over the past five years; profitability over the past 12 months; at least $25 million in sales over the past four quarters; and Thomson IBES consensus earnings forecasts of at least 10 percent annualized earnings growth over the next three to five years.
Companies with significant legal problems, or with possible accounting or corporate governance issues, based upon guidance provided by Audit Integrity of Los Angeles, are disqualified.
Freeland concluded: “Our global teams give us our competitive edge. As we grow our revenues and expand our operations, we will continue to hire the best and brightest in order to make our customers products and processes the best in the world, and to ensure we maintain our leadership position in this market.”
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