Cognex Reports $5.7M Profit
Natick-based Cognex Corp. reported second quarter net income of $5.7 million on $67.1 million in revenue.
The revenue figure is an 11 percent improvement from the $61 million the company reported for the first quarter, but net income is down from $8.5 million in first quarter. Second quarter revenue was also 23 percent more than the $54.7 million the company reported for the same period the prior year.
The company said it spent 18 percent more on research and development during the quarter than during the same period a year ago and increased inventories.
However, the company did take a $3.1 million loss related to the sale of its lane departure warning business to Takata Corp.
Cognex develops and manufactures machine vision sensors used on assembly lines, manufacturing and in other industries.
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