November 2, 2011
3Q Revenue Up, Profits Dips At Cognex
By Rick Saia
Natick-based Cognex Corp. reported a 7 percent year-over-year increase in revenue but a 1 percent drop in profits for the third quarter of this year.
Cognex reported revenues of slightly more than $80 million and profits of about $18 million. Its year-to-date numbers are both up substantially, though, with revenues up 16 percent from January through September and profits up 22 percent. Profits jumped despite "significant additional investments in new product development and (an expansion of) our sales team," said Chairman Robert J. Shillman.
Cognex makes machine vision technology, including barcode readers and machine vision sensors used in manufacturing and other sectors.
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