Cognex 2017 revenue up 44 per cent

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Cognex has reported 2017 revenue for the year ending 31 December of $747.95 million, up 44 per cent on revenue for 2016.

Revenue for the fourth quarter 2017 ($180.365 million) increased 39 per cent from Q4-16, but declined 31 per cent from Q3-17. Year-on-year growth came from a variety of industries, including consumer electronics, logistics and automotive, according to the company.

The sequential decrease was because of the Q3-17 timing of large orders from the consumer electronics industry. Outside that industry, revenue increased by more than 10 per cent on a sequential basis.

The company’s research, development and engineering expenses increased 39 per cent from Q4-16 and 3 per cent from Q3-17. RD&E increased both year-on-year and sequentially thanks to additional engineering resources and product development costs.

Cognex’s revenue for Q1-18 is expected to be between $165 million and $175 million, which represents growth between 19 per cent and 26 per cent year-on-year. On a sequential basis, Cognex expects the typical seasonal decline from Q4 to Q1 in factory automation.