Cognex Corp (CGNX) Tops Q1 EPS by 1c, Offers Guidance

Cognex Corp (NASDAQ: CGNX) reported Q1 EPS of $0.21, $0.01 better than the analyst estimate of $0.20. Revenue for the quarter came in at $90.9 million versus the consensus estimate of $91.15 million.

Cognex Corp sees FY2014 revenue of $101-105 million, versus the consensus of $99.2 million. Gross margin is expected to be in the mid-70% range.

On a sequential basis, operating expenses are expected to increase by up to 15%. This increase is partially due to additional support required for the $40 million business win that was announced on April 23, 2014, further investments in growth areas and legal fees related to the company’s patent lawsuit against Microscan Systems, Inc. The effective tax rate is expected to be 19% before discrete tax items.

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

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