Vision firms experience static first quarter for 2016

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Imaging companies have posted relatively static reports for the first quarter of 2016. Cognex’s and Teledyne Dalsa’s sales were both down year-on-year, by 5 per cent and 0.6 per cent respectively.

Basler reported a completely static revenue change for the first quarter of 2016, but e2v’s imaging segment grew by 16.7 per cent.

Cognex reported a decrease of 5 per cent in Q1 revenue over the past year, from $101,373,000 to $96,205,000. The decline from last year's record first-quarter revenue was primarily due to lower revenue from the consumer electronics industry.

Dr Robert Shillman, chairman of Cognex, commented: ‘I am pleased to report that our first quarter results were better than the guidance we gave to investors in February. The year started off on a stronger note than anticipated, and our guidance for Q2 reflects a significant sequential increase in revenue and substantial margin expansion’.

Cognex expects revenue for Q2 2016 to be between $135 million and $140 million. This range represents substantial growth over Q1 2016, due primarily to large orders expected from consumer electronics customers.

Reported imaging revenue at e2v increased by 16.7 per cent to £103.5m, compared to £88.7m in 2015, showing the fastest growth in the group and now representing over 44 per cent of the total group revenue.

The imaging performance of e2v has contributed a large portion of this year’s overall revenue increase. Steve Blair, CEO of the group, commented on the result: ‘I am delighted with the performance of the business.  We have made solid progress on “Our vision, our future” and delivered a good financial performance.’

Professional Imaging represents two thirds of the division's revenue, with the balance coming from Space. Overall profit growth in the division reflects the contribution to revenue growth, with Professional Imaging delivering improving margins, and in Space, margin improvements reflect the benefit of the improving operational performance. This continues to confirm the strong growth in industrial imaging that e2v showed in 2015.

Teledyne’s digital imaging segment’s first quarter 2016 sales were $89.9 million, compared with $90.4 million, a decrease of 0.6 per cent. Operating income was $8.2 million for the first quarter of 2016, compared with $9.3 million, a decrease of 11.8 per cent. The 2016 first quarter sales reflected lower sales of laser-based mapping systems and infrared imaging sensors for the US government.

Basler has reported a 0 per cent change in revenue since the first quarter of 2015. Last year, the company posted sales revenue for the 2015 fiscal year of €85.4 million, up by eight per cent, year-on-year.

Basler stated: ‘We are confident about the second quarter and adhere to our strategy providing for group sales 2016 within a corridor of €90-92 million and a pre-tax return rate of 9-10 per cent. Based on the solid result of the first quarter, we will continue to determinedly drive our growth strategy in the course of the year.’

In the upcoming months the company expects a positive development of the markets, especially in Asia.

Related article:

European vision industry grows 10 per cent in 2015

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