Cognex Reports Results for the Second Quarter of 2018

July 30, 2018 04:06 PM Eastern Daylight Time

NATICK, Mass.--(BUSINESS WIRE)--Cognex Corporation (NASDAQ: CGNX) today announced financial results for the second quarter of 2018. Table 1 below shows selected financial data for Q2-18 compared with Q2-17 and Q1-18, and the first six months of 2018 compared with the first six months of 2017. All periods presented reflect the two-for-one stock split in Q4-17.

Cognex Reports Second Quarter 2018 Results

 
 

Table 1*

(Dollars in thousands, except per share amounts)
                 
   

Revenue

  

Net Income

  

Net Income
per Diluted
Share

  

Non-GAAP
Net Income
per Diluted
Share**

Quarterly Comparisons

                

Current quarter: Q2-18

   $211,264   $56,196   $0.32   $0.31
Prior year’s quarter: Q2-17   $178,080   $56,495   $0.32   $0.28
Change: Q2-17 to Q2-18   19%   (1%)   0%   11%
Prior quarter: Q1-18   $169,567   $37,217   $0.21   $0.18
Change: Q1-18 to Q2-18   25%   51%   52%   72%

Year-to-Date Comparisons

                
Six months ended July 1, 2018   $380,831   $93,413   $0.52   $0.49
Six months ended July 2, 2017   $317,119   $101,966   $0.57   $0.46
Change from first six months of 2017 to first six months of 2018   20%   (8%)   (9%)   7%

* The financial results for all periods presented reflect the retroactive adoption of a new revenue recognition standard (ASC 606, “Revenue from Contracts with Customers”) that became effective on January 1, 2018. This standard did not have a material impact on total revenue. For a historical perspective, Exhibit 4 of this news release includes the company’s quarterly Statement of Operations for 2017 adjusted for the impact of the new standard.

**Non-GAAP net income per diluted share excludes tax adjustments. A reconciliation from GAAP to Non-GAAP is shown in Exhibit 2 of this news release.  

Click here to see the full press release

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