Cognex Corp (CGNX) Tops Q2 EPS by 2c

Cognex Corp (NASDAQ: CGNX) reported Q2 EPS of $0.32, $0.02 better than the analyst estimate of $0.30. Revenue for the quarter came in at $211.3 million versus the consensus estimate of $204.86 million.

GUIDANCE:

Cognex Corp sees Q3 2018 revenue of $220-230 million.

• This range represents a decline year-on-year due to substantially lower revenue expected from large customers in OLED display and smartphone manufacturing.
• Gross margin is expected to be in the mid-70% range, which is Cognex’s target range for gross margin under the new revenue recognition standard.
• Operating expenses are expected to be approximately flat on a sequential basis.
• The effective tax rate is expected to be 16%, before discrete tax items.

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

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