Cognex Reports Q3 Results
Cognex Corp. of Natick reported a third quarter profit of $11.3 million, a 50 percent increase from the $7.6 million reported for the same period a year ago.
The company also reported revenue of $63.2 million, a 16 percent increase from the $54.7 million it reported in the third quarter of 2007.
The third quarter's results were down compared to the second quarter, however. The company reported revenue of $67 million and income of $8.8 million in the second quarter. The company's third quarter operating income of $8 million is also a decrease from the second quarter. For that period, the company reported operating income of $10.7 million. Operating income for the third quarter of 2007 was $7.5 million.
The company, which makes machine vision sensors that monitor assembly lines and other manufacturing processes, said it ended the quarter with more than $236 million in cash and no debt. It said it expects fourth quarter revenue between $53 million and $58 million.
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