Cognex posts record $173M quarterly revenue
Cognex makes machine-vision technology such as this hand-held terminal.
Natick-based Cognex Corp. reported a new revenue high and a 30-percent increase in net income over 2016 in the second quarter, according to an earnings statement released Monday.
Robert Shillman, founder and chairman of Cognex, attributed the gains to growth across the factory automation market the company serves, and called the company’s profit level ridiculously high.
The machine-vision technology manufacturer posted net income of $56.1 million in the second quarter ending July 2, up from $43 million a year earlier, for a quarterly share price of 63 cents. Revenue for the quarter totaled $172.9 million, the highest quarterly revenue in the company’s 36-year history, Shillman said.
Cognex reported $765 million in cash and investment and carries no debt, according to the statement.
WBJ Web Partners
Most Recent
Most Recent
0 Comments