Cognex sets company revenue record during Q2
Photo | Grant Welker
Cognex's Natick headquarters
Natick machine vision systems and bar code reader manufacturer Cognex announced the company brought in the highest quarterly revenue in its 40-year history.
Revenue for Cognex was reported at $269 million for the second quarter, up from $169 million during the same quarter a year prior, an increase of 59%, according to the earnings report released Thursday.
This is the second quarter in a row Cognex has reported setting company financial records.
Profits for the company totaled $77.6 million for the second quarter, up dramatically from the same quarter last year, when the company reported a $1.1-million loss, an increase of nearly 7,000%.
"What a quarter!" said Robert Willett, CEO of Cognex, in a statement. "Revenue was the highest in our company’s 40-year history and grew substantially year over year due to strong, broad-based demand for Cognex products. We were also highly profitable and reported an operating margin of 34%, which is well above our 30% long-term target."
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