NATICK, Mass.--(BUSINESS WIRE)--Cognex Corporation (NASDAQ: CGNX) today announced financial results for the fourth-quarter and full-year of 2017. Table 1 below shows selected financial data for Q4-17 compared with Q4-16 and Q3-17, and the year ended December 31, 2017 compared with the year ended December 31, 2016. All periods presented reflect the two-for-one stock split paid in Q4-17.
In Q4-17, the Tax Cuts and Jobs Act of 2017 resulted in a one-time charge to tax expense of $83 million, or $0.46 per share. This amount includes the estimated U.S. tax on unrepatriated foreign earnings, the revaluation of deferred tax positions to the new lower U.S. tax rate, and the recharacterization of certain income under the law. Excluding the estimated impact of U.S. tax reform and other discrete tax items, Cognex set new fourth quarter records for revenue, net income and earnings per share, all from continuing operations.
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