Cognex jumps after announcing orders worth $40M+

Cognex (CGNX +4.4%) has received two orders from an unnamed Asian manufacturer for machine vision systems and barcode readers. The orders have a total value topping $40M; revenue will be recognized in Q3.

Cognex notes the orders are the largest it has received from a single customer in its 33-year history, and says it beat out a number of competitors in qualifications.

Q1 results are due on April 30.

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