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Cognex Corporation (NASDAQ: CGNX) is a leading global provider of machine vision products that are used to automate manufacturing processes. Founded in 1981 and headquartered in Natick, Massachusetts, USA, Cognex designs, develops, manufactures, and markets a diverse range of products incorporating cutting-edge machine vision technology. These products include barcode readers, machine vision sensors, and comprehensive machine vision systems, which are utilized extensively in factories, warehouses, and distribution centers worldwide to guide, gauge, inspect, identify, and ensure the quality of items during the manufacturing and distribution processes.
Cognex's product offerings cater to various industrial applications, leveraging advanced vision software that combines vision tools with customer-specific cameras and peripheral equipment to perform tasks such as part location, identification, measurement, and robotic guidance. Their vision systems integrate a camera, processor, and vision software into a single package, while their vision sensors offer cost-effective solutions for common vision applications. Additionally, Cognex's ID products are designed to read codes applied to items during the manufacturing process.
As the undisputed leader in the machine vision industry, Cognex has shipped more than 4.5 million vision-based products, generating over $11 billion in cumulative revenue since its inception. The company has a significant presence across the globe, with offices and distributors throughout North America, Japan, Europe, Asia, and Latin America. Cognex aims to enhance efficiency and quality in high-growth-potential businesses across various industrial end markets.
Recently, Cognex launched the industry's first AI-enabled 3D vision system, the In-Sight® L38 3D Vision System, which combines artificial intelligence with 2D and 3D vision technologies to solve a range of inspection and measurement applications. This innovative system simplifies the configuration of 3D systems and improves the quality and performance of automated inspections.
Despite facing a challenging business environment, Cognex continues to invest in long-term growth initiatives, launching a record number of new products in 2023 and embarking on a multi-year investment in their Emerging Customer initiative. This strategic focus aims to expand their customer base and capitalize on exciting industry trends as growth returns.
For detailed company information, visit Cognex Corporation.
Cognex Corporation (NASDAQ: CGNX) is set to release its earnings for Q1 2021 on May 6, 2021, after market close. The earnings announcement will align with the filing of its Form 10-Q for the quarter ending April 4, 2021. A conference call will occur the same day at 5:00 p.m. EDT, providing investors and analysts an opportunity to discuss the results. Cognex, a leader in machine vision, has shipped over 3 million image-based products, generating more than $8 billion in cumulative revenue since its inception in 1981.
Cognex Corporation (NASDAQ: CGNX) reported Q4 2020 revenue of $223.6 million, a 32% increase year-over-year, although net income fell by 14% to $69.3 million. For the full year, revenue reached a record $811 million, up 12% from 2019, but net income declined by 14% to $176.2 million. The company recorded a significant investment of $131 million in R&D, representing 16% of total revenue. Positive trends in e-commerce and medical sectors aided growth, yet the automotive industry presented challenges. Looking ahead, Q1 2021 revenue is expected between $225 million and $245 million.
Cognex Corporation (NASDAQ: CGNX) announced a quarterly cash dividend of $0.06 per share, payable on March 12, 2021, to shareholders on record as of February 26, 2021. Renowned for its innovative image-based products leveraging artificial intelligence, Cognex is a leader in the machine vision industry. With over 3 million products shipped and cumulative revenue exceeding $8 billion since its inception in 1981, Cognex continues to enhance production and shipping efficiency across global factories and distribution centers.
Cognex Corporation (NASDAQ: CGNX) announces the resignation of founder Dr. Robert J. Shillman from its Board and as an executive officer effective May 5, 2021. He will transition to the role of Chairman Emeritus and Adviser by June 1, 2021. Shillman has significantly influenced Cognex's success over the past 40 years, shaping its innovative culture. Following his departure, Anthony Sun will take over as Chairman. Cognex, a leader in machine vision solutions, has shipped over 3 million products since 1981, generating over $8 billion in revenue.
Cognex Corporation (NASDAQ:CGNX) announced that CFO Paul Todgham will present at the 42nd Annual Raymond James Institutional Investors Conference on March 2, 2021, at 3:00 p.m. ET. Investors can listen to the live audio broadcast or access an archived recording on the Cognex Investor Relations website. Cognex designs and manufactures AI-based image products to enhance decision-making in factories and distribution centers, eliminating errors in production and shipping. Since its founding in 1981, the company has shipped over 3 million products, generating more than $8 billion in revenue.
Cognex Corporation (NASDAQ: CGNX) is set to release its fourth-quarter earnings for 2020 on February 11, 2021, after market close. A conference call will follow at 5:00 p.m. EST. The earnings report and the Form 10-K filing for the year ending December 31, 2020, will be disclosed simultaneously. Cognex, a leader in the machine vision industry, has shipped over 2.3 million products, contributing to more than $7 billion in cumulative revenue since 1981.
Cognex Corporation (NASDAQ: CGNX) announced the appointment of Sachin S. Lawande to its board of directors, effective January 1, 2021. He is currently the President and CEO of Visteon Corporation, bringing extensive experience in the automotive industry, a key market for Cognex. His background in managing complex electronic products and his experience on public boards are seen as valuable assets for Cognex's strategic direction. This move aims to enhance Cognex’s leadership and expertise in machine vision technologies.
Cognex Corporation (NASDAQ: CGNX) has declared a "very special" cash dividend of $2.00 per share, totaling approximately $350 million. This dividend is payable on December 28, 2020 to shareholders of record by December 14, 2020. Cognex has maintained quarterly cash dividends since 2003, with cash and investments exceeding $1 billion. The company emphasizes its strong balance sheet, absence of debt, and ongoing confidence in long-term growth, highlighting its commitment to return value to shareholders amid current economic challenges.
Cognex Corporation (NASDAQ: CGNX) announced a quarterly cash dividend of $0.06 per share for Q3-2020, marking a 9% increase from the previous quarter's $0.055. This dividend will be payable on November 27, 2020 to shareholders on record as of November 13, 2020. Cognex continues to lead the machine vision industry with over 2.3 million image-based products shipped and more than $7 billion in cumulative revenue since its inception in 1981.
Cognex Corporation (NASDAQ: CGNX) reported strong financial results for Q3-20, with revenue reaching $251 million, a 37% increase compared to Q3-19. Net income surged 110% to $87 million, leading to a diluted EPS of $0.49. The operating margin improved to 38% from 24% a year ago. Strong demand from consumer electronics and logistics sectors contributed to the growth. However, for Q4-20, the company expects revenue between $190 million and $210 million, a decline from Q3-20 due to concentrated customer demand.
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