November 2, 2010
Q3 Profit Increases 300% For Natick's Cognex
By Matthew L. Brown
Cognex Corp., the Natick-based manufacturer of machine vision sensors, said it turned an $18 million profit in the third quarter, a 303-percent increase over the same period a year ago.
Revenue for the quarter was $75 million, an 82-percent increase.
For the first nine months of the year, Cognex made a $41.6-million profit compared to a $5.3-million loss a year earlier. Revenue over the same time increased from $124 million to $205 million.
The company said "robust demand" in the factory automation market was the primary driver behind the quarter's results.
Cognex makes sensors that allow factories to automate production lines, as well as quality control and assurance operations, thereby lowering manufacturing costs.
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