Cognex Results Top Estimates, Outlook Strong; Stock Up 3%

(RTTNews) - Cognex Corp (CGNX), a maker of barcode readers and other machine vision products, on Monday reported first-quarter net earnings of $20.5 million or $0.23 per share compared with $18.5 million or $0.21 per share last year.

Excluding items, adjusted earnings for the quarter were $0.28 per share compared with $0.24 per share a year ago.

Revenues for the quarter were $113.4 million compared with $90.9 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.22 per share on revenues of $109.5 million for the quarter. Analysts' estimates typically exclude special items.

For the second quarter, the company expects revenues of $152 million to $157 million, reflecting mainly large orders from the consumer electronics industry. Analysts expect revenues of $129 million.