Cognex Says It Sees Recovery
Cognex Corp., the Natick-based developer and manufacturer of machine vision sensors, said it expects revenue between $56 million and $59 million for the first quarter.
That would be an increase of as much as 15 percent over the previous quarter. The company previously predicted revenue of $54 million for the quarter.
Order rates are on the increase across the company's product line, it said. "Our recovery is so broad based, our outlook for the year is quite a bit more bullish today than it was just a few months ago," Robert J. Shillman, the company's chairman and CEO, said in a statement.
The company brought in $176 million in revenue last year, a 28 percent decrease from 2008, and reported a $4.9 million loss compared to a $30.5 million profit the prior year.
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