Cognex Sees Revenue Increase, Swings To Profitability
Cognex Corp., the Natick-based manufacturer of vision sensors and systems, said it turned a $14.9 million profit on revenue of $71.8 million in the second quarter.
During the same period a year ago, the company lost $6.4 million and brought in revenue of $41 million.
The company described the quarter's results as "fabulous." It said it saw increasing demand across its entire customer base, and in its factory automation business in particular.
The factory automation products Cognex makes, including surface inspection equipment, allow manufacturers to lower costs by automating certain processes.
Cognex carries no debt and ended the quarter with $200 million in cash and investments. It expects third quarter revenue between $65 million and $68 million. The company anticipates a revenue decline from the second quarter as a result of "typical seasonal softness."
WBJ Web Partners
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