Cognex Corp (CGNX) Reports Q2 EPS of $0.18

Cognex Corp (NASDAQ: CGNX) reported Q2 EPS of $0.18, versus $0.28 reported last year. Revenue for the quarter came in at $169.1 million versus the consensus estimate of $148.98 million.

GUIDANCE:

Cognex Corp sees Q3 2020 revenue of $200-220 million.

• Given the degree of global uncertainty, Cognex widened its expected revenue range for Q3-20. The company is also assuming that business conditions continue in line with the current situation.
• Cognex expects revenue for Q3-20 will be between $200 million and $220 million. This range represents growth both year-on-year and sequentially due to higher expected revenue from customers in the consumer electronics and logistics markets. However, Cognex is experiencing weak business conditions in its core factory automation market and expects that to continue for some time.
• Gross margin for Q3-20 is expected to be in the mid-70% range.
• The combined total of expenses for RD&E and SG&A, which excludes the restructuring and intangible impairment charges, is expected to be relatively flat with both Q2-20 and Q3-19.
• The effective tax rate is expected to be 19%, excluding discrete tax items.

For earnings history and earnings-related data on Cognex Corp (CGNX) click here.

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