Cognex Corp Q4 Profit Decreases, but beats estimates

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

The company's earnings came in at $11.229 million, or $0.07 per share. This compares with $55.311 million, or $0.32 per share, in last year's fourth quarter.

Excluding items, Cognex Corp reported adjusted earnings of $19.006 million or $0.11 per share for the period.

Analysts on average had expected the company to earn $0.1 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 17.9% to $196.670 million from $239.433 million last year.

Cognex Corp earnings at a glance (GAAP) :

-Earnings (Q4): $11.229 Mln. vs. $55.311 Mln. last year. -EPS (Q4): $0.07 vs. $0.32 last year. -Analyst Estimates: $0.1 -Revenue (Q4): $196.670 Mln vs. $239.433 Mln last year.