May 1, 2012
Cognex Reports 4% Jump In Revenue
Machine sensor maker Cognex Corp. of Natick posted first-quarter revenue of $77.7 million, 4 percent higher than the same quarter last year.
Revenue fell 8 percent from $84 million in the fourth quarter of 2011, due to what the company said was typical seasonal decline in factory automation revenue after a record fourth quarter in 2011.
Chairman Robert J. Shillman said first-quarter results exceeded expectations and gave the company its highest first-quarter revenue in its 31-year history. He said Cognex expects to go forward with that momentum, based on current orders.
At 33 cents, earnings per share were up 2 percent from the first quarter of 2011.
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