FARO Technologies Reports 52% Increase in Sales in First Quarter 2003

LAKE MARY, Fla., April 16 -- FARO Technologies, Inc. today reported sales of approximately $13.2 million for the first quarter ended March 31, 2003, a 51.7% increase from $8.7 million in the first quarter of 2002. On a sequential basis, sales in the first quarter of 2003 represented 87.4% of fourth quarter 2002 sales, showing an apparent seasonality, in line with the preceding five-year (1998 - 2002) average of 86.2% when comparing first quarter sales to sales in the fourth quarter of the prior year.

Backlog at March 31, 2003 was approximately $8.9 million, compared to approximately $3.5 million at March 31, 2002, and approximately $8.8 million at December 31, 2002.

The Company expects to issue its full earnings release for the first quarter of 2003 in early May.

About FARO

FARO Technologies, Inc. and its international subsidiaries design, develop, and market software and portable, computerized measurement devices. The Company's products allow manufacturers to perform three- dimensional inspections of parts and assemblies on the shop floor. This helps eliminate manufacturing errors, and thereby increases productivity and profitability for a variety of industries in FARO's worldwide customer base. Principal products include the FARO Gage(TM), Platinum and Titanium FaroArms(R), Control Station(R) measurement system, the Laser Tracker(R) and a CAM2(R) family of advanced CAD-based measurement and reporting software. FARO Technologies is ISO 9001 certified and Guide 25 approved. Learn more at www.faro.com.

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