Cognex Corp Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Cognex Corp (CGNX) released a profit for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $36.2 million, or $0.21 per share. This compares with $57.5 million, or $0.33 per share, in last year's second quarter.

Excluding items, Cognex Corp reported adjusted earnings of $38.9 million or $0.23 per share for the period.

Analysts on average had expected the company to earn $0.2 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.3% to $239.292 million from $242.512 million last year.

Cognex Corp earnings at a glance (GAAP) :

-Earnings (Q2): $36.2 Mln. vs. $57.5 Mln. last year. -EPS (Q2): $0.21 vs. $0.33 last year. -Revenue (Q2): $239.292 Mln vs. $242.512 Mln last year.

-Guidance: Next quarter revenue guidance: $225-$240 Mln