Cognex Q1 Profit Tops Estimate

(RTTNews) - Cognex Corp. (CGNX) reported net income for the first quarter of $18.5 million or $0.21 per share, compared to $15.6 million or $0.18 per share for the year-ago quarter.

Excluding stock option expense, adjusted earnings per share for the first quarter were $0.24, compared to $0.20 last year.

Revenue for the first quarter rose 12% to $90.93 million from $80.89 million a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.20 per share on revenue of $91.15 million for the first quarter.

Looking forward, the company forecasts second quarter revenue of $101 million to $105 million. Analysts currently expect the company to post revenue of $98.02 million for the second quarter.