Cognex

Growth in logistics partially offset the weak automotive market year-on-year, and more than offset it on a sequential basis

The job cuts are part of steps Cognex is taking to lower expenses because of deteriorating market conditions. The firm's CEO and chairman will waive their salaries, and the company’s board of directors have waived their cash fees for the remainder of the year

Cognex's revenue declined 4 per cent in Q1-20, but said the Covid-19 outbreak had only a modest adverse impact on business in the quarter. It expects further decline in Q2-20

Cognex expects the decline in revenue to continue into the first quarter of 2020, because of weakness in automotive and the estimated impact of the coronavirus outbreak

The last year has been one of consolidation for the machine vision industry, along with a slowdown in the markets that machine vision serves

The result reflects lower sales to customers in consumer electronics, particularly smartphone manufacturing. Revenue from automotive and other industrial markets also continued to weaken

Sualab’s Suakit machine vision software uses neural networks to detect atypical and irregular defects that are not easily captured by a traditional rule-based machine vision system

Cognex expects its revenue to continue to decline in the third quarter 2019, because of lower revenue predicted from consumer electronics and weakness in Europe and Asia