August 2, 2016
Consumer electronics drive Cognex growth; stocks leap 16 percent
Cognex makes machine-vision technology such as this hand-held terminal.
By Sam Bonacci
Natick-based Cognex Corp. has reported revenue growth for the second quarter of 2016, with company officials anticipating even more growth in consumer electronics in the future.
The maker of machine-vision technology such as barcode readers reported 2-percent year-over-year growth in revenue for the quarter, up to $147.3 million. Business in the organization’s three largest sectors, consumer electronics, automotive and logistics was higher than anticipated, according to CEO Robert Willett. As a result of the strong quarter, net income per diluted share was 50 cents.
Following the report, stocks for the company increased by more than 16 percent in early morning trading.
WBJ Web Partners
Most Recent
Most Recent
0 Comments