Jeff,
Yours is faulty. Send it back to Swarovski and they will look after you. Their customer service is first rate.
I returned two faulty units like yours before I received a good one that would range 1,500yds+ consistently. I eventually returned the third unit as well because it would often not range some close-range targets (900yds) that my Leica CRF ranged perfectly all the time.
Don't get me wrong, the Swaro is a brilliant piece of gear all round and a good Swaro will always outrange a good Leica CRF. However, for my hunting needs, the other attributes of the CRF outweigh the greater range of the Swaro. It's just a personal choice.