Cognex grows 17 per cent in Q2 2017; electronics sector to boost revenue in Q3

Share this on social media:

Cognex continues its growth trajectory with a 17 per cent increase in revenue year-on-year for the second quarter of 2017. The company made $172.9 million in revenue during the period; the largest contributions came from the consumer electronics and logistics sectors.

Cognex grew 16 per cent in 2016, acquiring four companies in that year, and a fifth, the deep learning specialist ViDi Systems, in April 2017.

The company expects revenue for Q3 2017 to be between $250 million and $260 million, a substantial increase both year-on-year and sequentially because of higher anticipated revenue from the consumer electronics industry. Cognex believes that the majority of larger consumer electronics orders in 2017 will be recognised as revenue in Q3 as compared to 2016, when they were more evenly split between Q2 and Q3.

Research, Development and Engineering expenses increased 19 per cent from Q2 2016 and 3 per cent from Q1 2017, because of higher employee-related costs, including the addition of new engineering personnel from the company's recent acquisitions.

Related article:

Sights on 3D - Cognex has strengthened its position in 3D vision with a number of recent company acquisitions in the area, as Greg Blackman discovers

Company: 

Related news

Recent News

23 September 2020

The software will help engineers develop event-based vision systems, an imaging method that records changes in a scene rather than capturing an image frame by frame

14 September 2020

Messe Stuttgart has set a date of 5 to 7 October 2021 for the Vision show, which was cancelled because of the coronavirus pandemic. The show will be held in parallel with Motek

03 September 2020

Terahertz imaging company, Tihive, has been awarded €8.6m from the European Innovation Council's Accelerator programme to scale up its industrial inspection technology

01 September 2020

The robotics market in North America is down 18 per cent so far compared to the same period last year