Cognex Corp Q3 Profit Decreases, But Beats Estimates

(RTTNews) - Cognex Corp (CGNX) announced a profit for third quarter that Decreased from the same period last year but beat the Street estimates.

The company's earnings totaled $17.66 million, or $0.10 per share. This compares with $29.59 million, or $0.17 per share, last year.

Excluding items, Cognex Corp reported adjusted earnings of $56.10 million or $0.33 per share for the period.

Analysts on average had expected the company to earn $0.29 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period rose 18.0% to $276.89 million from $234.74 million last year.

Cognex Corp earnings at a glance (GAAP) :

-Earnings: $17.66 Mln. vs. $29.59 Mln. last year. -EPS: $0.10 vs. $0.17 last year. -Revenue: $276.89 Mln vs. $234.74 Mln last year.

-Guidance: Next quarter EPS guidance: $0.19 - $0.24 Next quarter revenue guidance: $230 - $245 Mln