Cognex Earned Record Profits, Revenue in Q3
Photo/Christina H. Davis
Robert Willett, CEO of Cognex Corp.
Natick-based Cognex Corp. announced record profits and revenues for its third quarter.
The machine vision technology developer reported an adjusted net income of $20.73 million or 23 cents per share in the third quarter of 2013, compared to $17.8 million, or 20 cents per share, last year. Analysts expected the company to report profits of 21 cents per share in the most recent quarter.
Year-over-year revenue rose from $80.1 million in the third quarter of 2012 to $90.8 million this year. That, too, exceeded analyst predictions of $90 million.
“What great results we reported tonight for the third quarter of 2013!” chairman Dr. Robert Shillman exclaimed in a statement. “We set new quarterly records for both revenue and net income during what is typically a seasonally soft quarter.”
Cognex enjoyed particularly strong performance in the factory automation market due to a large volume of orders for ID products.
Cognex anticipates its fourth-quarter revenue to fall between $93 million and $96 million, with analysts predicting $94.75 million.
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