Record first quarter for Cognex
Machine sensor manufacturer Cognex Corp. of Natick had record-high revenue, net income and earnings per share in the first quarter, the company reported.
“Cognex started 2015 on a strong note,” Robert J. Shillman, chairman of Cognex, said in Monday’s statement. He said revenue grew 25 percent compared with the first quarter of 2014, “driving the highest first quarter net income and earnings per share in Cognex’s 34-year history.”
The quarter, which ended April 5, had revenue of $113.4 million, net income of $20.5 million, and net income per share of 23 cents. In the first quarter of 2014, Cognex had revenue of $90.9 million, net income of $18.5 million, and net income per diluted share of 21 cents.
“I am pleased with our team’s strong performance in the first quarter,” CEO Robert J. Willett said in the statement. He said past investment in new product development and sales channel expansion drove the revenue growth.”
Cognex also said yesterday that the company’s board of directors has declared a cash dividend of 7 cents a share, payable on June 19.
“This is the first cash dividend declared by Cognex since the ‘very special’ dividend in the fourth quarter of 2012 when we rewarded shareholders by prepaying eight quarters’ worth of dividends in advance of changes in federal tax laws that increased the tax on dividends,” Shillman said in the statement.
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