Cognex Reports Record First Quarter Revenue, Net Income And EPS

Cognex Corporation (NASDAQ: CGNX) today announced its results for the first quarter of 2014. Selected financial data for the quarter ended March 30, 2014 is compared to the first and fourth quarters of 2013 in Table 1 below. A reconciliation of certain financial measures from GAAP to non-GAAP is shown in Exhibit 2 of this news release.

Table 1


Net Income

Net Income per Diluted Share*

Quarterly Comparisons
Current quarter: Q1-14       $90,929,000       $18,506,000       $0.21
Prior year’s quarter: Q1-13       $80,892,000       $15,583,000       $0.18
Change from Q1-13 to Q1-14       12%       19%       17%
Prior quarter: Q4-13       $95,696,000       $20,443,000       $0.23
Change from Q4-13 to Q1-14       (5%)       (9%)       (9%)

*Adjusted for the two-for-one stock split effective September 16, 2013.

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