Cognex Posts 2nd Best Quarter
Natick machine sensor maker Cognex Corp. reported quarterly increases of 1 percent in revenue and 4 percent in net income for the second quarter of the year.
Revenue rose to $84.3 million from $83.4 million in the same quarter of last year, while profits increased to $19.8 million from $19.1 million.
Cognex’s chairman, Robert J. Shillman, called the results “fantastic” as the company had its second-best revenue-generating quarter in its 31-year history. But Shillman warned that because of a “very challenging economic environment, we don’t expect to break these records in the near term.”
CEO Robert J. Willett issued a “cautious” outlook for the third quarter for several reasons, such as a pullback on spending by manufacturers amid a global economic slowdown, and continued “uncertainty in currency exchange rates.”
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