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Fly News Breaks for May 3, 2019
FARO
May 3, 2019 | 07:35 EDT
Needham analyst James Ricchiuti downgraded Faro Technologies to Hold after its "weak" Q1 results that showed slowing revenue growth to 5% vs. consensus forecast of 8%. The analyst attributes the slowdown to the "reorganization in the 3D manufacturing segment" that resulted in higher headcount turnover and weaker orders, noting that while the efforts may have longer term benefits, the disruption is likely to persist for the balance of 2019.
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