February 10, 2012
Cognex Announces Record Earnings In 2011
Natick-based machine sensor maker Cognex Corp. said its revenue and profits in 2011 were a company record.
Cognex's revenue for the year was $321.9 million, up 11 percent from 2010. Profits were $69.8 million, up 14 percent.
Fourth-quarter revenues were $84 million, down 1 percent from $84.9 million during the same quarter a year ago. The company earned $19.1 million in profit, down from $19.7 million year over year.
Robert Shillman, the company's chairman, said growth in 2011 was driven by sales of machine vision products in both the factory automation and surface inspection markets. Much of the latter market revenue came from the paper industry.
The company had no debt and held $357.4 million in cash as of Dec. 31.
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