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Cognex Receives $4 Million In Orders From Parcel Delivery Customer

Stocks in this article: CGNX

Cognex Corporation (NASDAQ: CGNX) announced today that it has received purchase orders totaling more than $4 million from a large parcel delivery customer. The customer will use Cognex DataMan® 300 barcode readers on automated sorting stations in its U.S. distribution centers. These readers are expected to be shipped by the end of 2013. Additional follow-on orders are expected in the future.

The DataMan 300 systems will read 1-D barcodes on trays containing items to be shipped, a key part in the process of routing these items to the correct destination.

“Cognex won this project after proving that our DataMan 300 ID reader provides a higher return on investment than other solutions,” said Carl Gerst, Cognex Vice President for ID Products. “DataMan can read even worn and very-hard-to read barcodes, which can be an issue with reusable trays used to transport items for sorting. DataMan’s nearly perfect read rates and ability to keep up with high-speed conveyors ensures the fastest and most reliable package throughput for the customer.”

The DataMan 300 with Hotbars™ image analysis technology offers reliable reading of 1-D barcodes that lasers cannot read, including damaged, distorted, blurred, scratched, low height and low contrast codes. It also reads codes presented in any orientation, multiple codes within the same image, and 2-D codes such as Data Matrix and QR codes. With no moving parts to wear out, the DataMan 300 offers exceptional reliability, lower maintenance and longer product life. DataMan’s real-time performance feedback also provides customers with the ability to make immediate adjustments for process improvements.

For more information about the advanced capabilities of the DataMan 300 image-based barcode reader, visit www.cognex.com/factory-id-reader.aspx.

About Cognex Corporation

Cognex Corporation designs, develops, manufactures and markets a range of products that incorporate sophisticated machine vision technology that gives them the ability to “see.” Cognex products include barcode readers, machine vision sensors and machine vision systems that are used in factories, warehouses and distribution centers around the world to guide, gauge, inspect, identify and assure the quality of items during the manufacturing and distribution process. Cognex is the world's leader in the machine vision industry, having shipped more than 900,000 vision-based products, representing over $3.5 billion in cumulative revenue, since the company's founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has regional offices and distributors located throughout North America, Japan, Europe, Asia and Latin America. For details visit Cognex online at http://www.cognex.com.

Certain statements made in this news release, which do not relate solely to historical matters, are forward-looking statements. These statements can be identified by use of the words “expects,” “anticipates,” ”estimates,” “believes,” “projects,” “intends,” “plans,” “will,” “may,” “shall,” “could,” “should,” and similar words. These forward-looking statements, which include statements regarding business and market trends, future financial performance, the timing of order shipments, customer order rates, expected areas of growth, research and development and sales activities, and strategic plans, involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include: (1) current and future conditions in the global economy; (2) the cyclicality of the semiconductor and electronics industries; (3) the reliance on revenue from the automotive industry; (4) the inability to penetrate new markets; (5) the inability to achieve significant international revenue; (6) fluctuations in foreign currency exchange rates; (7) the loss of a large customer; (8) the inability to attract and retain skilled employees; (9) the reliance upon key suppliers to manufacture and deliver critical components for Cognex products; (10) the failure to effectively manage product transitions or accurately forecast customer demand; (11) the inability to design and manufacture high-quality products; (12) the technological obsolescence of current products and the inability to develop new products; (13) the failure to properly manage the distribution of products and services; (14) the inability to protect Cognex proprietary technology and intellectual property; (15) involvement in time-consuming and costly litigation; (16) the impact of competitive pressures; (17) the challenges in integrating and achieving expected results from acquired businesses; (18) potential impairment charges with respect to Cognex’s investments or for acquired intangible assets or goodwill; (19) exposure to additional tax liabilities; (20) information security breaches or business systems disruptions; and (21) the other risks detailed in Cognex reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2012. You should not place undue reliance upon any such forward-looking statements, which speak only as of the date made. Cognex disclaims any obligation to update forward-looking statements after the date of such statements.



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