Cognex Corp Q1 Profit Decreases, but beats estimates

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

The company's earnings totaled $25.615 million, or $0.15 per share. This compares with $67.333 million, or $0.38 per share, in last year's first quarter.

Excluding items, Cognex Corp reported adjusted earnings of $22.021 million or $0.13 per share for the period.

Analysts on average had expected the company to earn $0.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 28.8% to $201.124 million from $282.407 million last year.

Cognex Corp earnings at a glance (GAAP) :

-Earnings (Q1): $25.615 Mln. vs. $67.333 Mln. last year. -EPS (Q1): $0.15 vs. $0.38 last year. -Analyst Estimates: $0.09 -Revenue (Q1): $201.124 Mln vs. $282.407 Mln last year.

-Guidance: Next quarter revenue guidance: $225Mln - $245Mln