Cognex Corp Q1 Profit Decreases, but beats estimates

(RTTNews) - Cognex Corp (CGNX) revealed a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $67.3 million, or $0.38 per share. This compares with $69.8 million, or $0.39 per share, in last year's first quarter.

Excluding items, Cognex Corp reported adjusted earnings of $73.7 million or $0.42 per share for the period.

Analysts on average had expected the company to earn $0.38 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 18.2% to $282.4 million from $239.0 million last year.

Cognex Corp earnings at a glance (GAAP) :

-Earnings (Q1): $67.3 Mln. vs. $69.8 Mln. last year. -EPS (Q1): $0.38 vs. $0.39 last year. -Analyst Estimates: $0.38 -Revenue (Q1): $282.4 Mln vs. $239.0 Mln last year.

-Guidance: Next quarter revenue guidance: $265-$285 mln