Cognex Q4 Profit Falls Yet Tops Estimate - InvestingChannel

Cognex Q4 Profit Falls Yet Tops Estimate

Cognex Corp. (CGNX: Quote) reprorted net income for the fourth quarter of $16.2 million or $0.37 per share, compared to $19.1 million or $0.44 per share for the year-ago quarter.

Excluding stock option expenses, earnings per share for the fourth quarter were $0.40, compared to $0.48 last year.

Revenue for the fourth quarter fell 2% to $82.17 million from $84.04 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.35 per share on revenue of $79.61 million for the fourth quarter.

Looking forward, Cognex forecast first quarter revenue of $78 million to $81 million. Gross margin for the first quarter is expected to continue in the mid-70% range. Analysts currently expect the company to post revenue of $77.90 million for the first quarter.

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by RTT Staff Writer

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