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Nov. 2, 2015, 5:20 PM
- Though Cognex (NASDAQ:CGNX) beat Q3 EPS estimates and posted in-line revenue, it's guiding for Q4 revenue of $94M-$97M, well below a $111.3M consensus. The industrial machine vision hardware maker expects sales to be "negatively impacted by deterioration in the industrial markets the company serves."
- Q3 sales fell 30% Y/Y (demand from consumer electronics clients was "substantially lower"), and Q4 guidance implies a 19% drop at the midpoint. Gross margin was 76%, down from 79% in Q2 and flat Y/Y; GM is expected to be in the mid-70s in Q4.
- Boosting Q3 EPS: SG&A spend fell 18% Y/Y and R&D fell 3% (job cuts), and $90.5M was spent to buy back 2.5M shares at an average price of $36.41. Cognex ended Q3 with $593M in cash/investments, and no debt.
- Shares have fallen to $35.75 after hours. The 52-week low is $32.35.
- Q3 results, PR
Nov. 2, 2015, 4:09 PM
- Cognex (NASDAQ:CGNX): Q3 EPS of $0.29 beats by $0.07.
- Revenue of $107.58M (-36.5% Y/Y) in-line.
Nov. 1, 2015, 5:35 PM
- ADUS, AEIS, AHL, AIG, ALDW, ALJ, ALL, AMC, AMCC, ANH, ARE, AVD, CAR, CBT, CDE, CGNX, CHGG, CUTR, CYH, DNB, DWRE, ELNK, ENH, ENS, ES, FN, GGP, GPRE, ININ, INN, KONA, LMNX, MCEP, MDAS, MDU, MIC, NLS, NPTN, NSTG, OHI, OLN, ONDK, OTTR, PLOW, PPS, PQ, PXD, QLYS, RAIL, RNG, RSPP, RTEC, RYN, SANM, SGY, SNHY, SSNC, SSW, TDOC, THC, TNET, TXRH, UIL, UNXL, VGR, VIAV, VNO, WSTC
Aug. 3, 2015, 6:18 PM
- Cognex (NASDAQ:CGNX) expects Q3 revenue of $106M-$109M. Consensus, which doesn't fully reflect the sale of Cognex's surface inspection system unit (SISD - officially sold on July 6), is at $144M. However, with SISD's Q2 revenue only totaling $11.2M, the division's absence doesn't fully account for the shortfall.
- The industrial machine vision hardware vendor notes "current lower spending trends in the Americas" are expected to continue in Q3. It also mentions "large customer deployments" that occurred in Q2 and in Q3 2014 aren't expected to repeat in Q3. CEO Robert Willett: "Based upon what we are hearing from our customers, we expect to see fewer large orders in the second half of this year."
- In an attempt to soften the blow, Cognex has added $100M to its buyback authorization, raising its available funds to $106.5M. $35.8M was spent on buybacks in Q2.
- Q2 revenue ($155M) was in-line with prior guidance of $152M-$157M when including SISD. Revenue from continuing ops was $143.8M.
- Shares have tumbled to $36.00 AH.
- Q2 results, PR
Aug. 3, 2015, 4:36 PM
- Cognex (NASDAQ:CGNX): Q2 EPS of $0.49 beats by $0.02.
- Revenue of $143.82M (+55.9% Y/Y) misses by $6.31M.
- Shares -9.9%.
Aug. 2, 2015, 5:35 PM
- ADUS, AEIS, AIG, ALDW, ALJ, ALL, ANH, APU, BKD, BMRN, BNFT, CAR, CGNX, CHGG, CKP, CTRP, CYH, DAC, DENN, DK, DKL, ELGX, ELNK, ENH, EPIQ, EXP, FIVN, GGP, HIL, IDTI, ININ, INN, KAR, KBR, KONA, LLNW, LMNX, MCEP, MCHP, MDU, MDWD, MIC, MRC, NLS, NVGS, OHI, ONDK, ORA, OTTR, PLOW, PPS, QEP, QLYS, QNST, RBC, RSPP, RTEC, SGMS, SNHY, THC, TNET, TSRA, TXRH, UGI, VECO, VNO, VNR, WSTC, XL
May 4, 2015, 4:09 PM
- Cognex (NASDAQ:CGNX): Q1 EPS of $0.28 beats by $0.06.
- Revenue of $113.43M (+24.7% Y/Y) beats by $3.97M.
May 3, 2015, 5:35 PM
- ADEP, AEGR, AEIS, APC, APU, ATEN, BALT, BBRG, BKH, CAR, CDE, CGNX, CHUY, CKEC, CXO, DENN, DNB, DVA, ECOM, EGOV, ELNK, ENH, EOG, EOX, FBP, FN, FNF, HIL, IDTI, IM, ININ, INN, INVN, IRG, ITRI, KS, LMNX, LSCC, MATX, MCEP, MDU, MERU, MIC, MUSA, NLS, NUVA, ONDK, OTTR, PACD, PLOW, PPS, PQ, PTCT, QLYS, RAIL, RGR, ROSE, RWT, SGY, SHO, SNHY, STAG, THC, TXRH, UGI, VNO, XEC, XPO
Feb. 12, 2015, 4:11 PM
- Cognex (NASDAQ:CGNX): Q4 EPS of $0.33 beats by $0.07.
- Revenue of $117.18M (+22.4% Y/Y) beats by $3.95M.
- Shares +0.32%.
Feb. 11, 2015, 5:35 PM
Oct. 27, 2014, 4:13 PM
- Cognex (NASDAQ:CGNX): Q3 EPS of $0.59 beats by $0.03.
- Revenue of $169.35M (+86.5% Y/Y) beats by $1.18M.
- Shares -0.99% AH.
Oct. 26, 2014, 5:35 PM
Jul. 28, 2014, 4:29 PM
- Cognex (NASDAQ:CGNX) expects Q3 revenue of $165M-$170M, well above a $142M consensus. A major customer is expected to account for over $60M of the total.
- While all three of Cognex's market segments contributed to its strong Q2 performance, the company states factory automation helped the most, with European demand picking up following a weak 2013. Both factory automation and surface inspection set new revenue records, and chip/electronics capital equipment grew Q/Q and Y/Y.
- Gross margin was 76% vs. 77% in Q1 and 76% a year ago; GM is expected to slip to "the mid-70% range" in Q3.
- R&D spend +15% Y/Y to $13.6M, SG&A spend +16% to $38.7M. $13M was spent on buybacks.
- Opex is expected to rise 25% Q/Q in Q3 due to "further investments in growth areas," some of which won't be repeating in Q4. Q4 opex is only expected to be 10% above Q2 levels.
- Q2 results, PR
Jul. 28, 2014, 4:11 PM
- Cognex (NASDAQ:CGNX): Q2 EPS of $0.32 beats by $0.10.
- Revenue of $108.8M (+25.8% Y/Y) beats by $5.5M.
- Shares +12.2%.
Jul. 27, 2014, 5:35 PM
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