Machine vision companies post strong growth
Following a relatively static first quarter in 2016, machine vision company sales picked up in the second quarter, with Stemmer Imaging and the Digital Imaging segment of Teledyne Technologies both recording around 10 per cent growth year-on-year.
Stemmer Imaging increased its total turnover by nearly 10 per cent to €83.7 million for its financial year, which ended on 30 June 2016. Meanwhile, Teledyne Technologies’ Digital Imaging segment posted Q2 sales of $99.4 million, an increase of 9.5 per cent on the same period last year.
Stemmer Imaging’s German headquarters contributed the largest share of the company’s total turnover with €47.9 million, which tops the previous year’s result by 11.6 per cent. The highest percentage of growth has been achieved by the Stemmer Imaging subsidiaries in Denmark, Poland, the Netherlands and Sweden. The company was also honoured with the ‘Bavaria's Best 50’ award.
‘With the result of €83.7 million we have surpassed the €80 million fiscal turnover and even exceeded our target,’ commented Christof Zollitsch, managing director at Stemmer Imaging. ‘Britain‘s recent voting for Brexit will certainly affect the new financial year which started on the 1st of July.’
The second quarter 2016 sales of Teledyne Technologies’ Digital Imaging segment primarily reflected higher sales of sensors and systems for life sciences and industrial X-ray applications, as well as laser-based mapping systems and geospatial software.
Operating income for the segment was $10.7 million for the second quarter of 2016, an increase of 21.6 per cent.
Cognex’s revenue for Q2 2016 increased by 2 per cent from Q2 2015 and 53 per cent from Q1 2016. Growth year-on-year across a number of industries was partially offset by lower revenue from the consumer electronics sector. Despite this increase in revenue, Cognex still experienced a $0.5 million decrease in its net income from continuing operations in Q2 2016 compared to the previous year, from $43.5 million to $43 million.
‘When we gave our guidance in May, we expected a good quarter. We are now very pleased to report we surpassed that guidance and had an exceptional quarter,’ said Robert Willett, CEO of Cognex. ‘Business in our three largest industries – consumer electronics, automotive and logistics – was higher than anticipated. We now expect to see revenue from consumer electronics grow on an annual basis.’
Flir Systems also reported a second quarter 2016 revenue of $402.7 million, up 2 per cent compared to the same period last year.
Cognex expects revenue for Q3 2016 to be between $142 million and $147 million. This range represents substantial growth over Q3 2015 due to large orders expected from the consumer electronics industry and anticipated growth in other industries, including logistics. Gross margin is expected to be in the mid-to-high 70 per cent range, while operating expenses are expected to be essentially flat on a sequential basis.