Cognex Corp Q3 Profit Decreases, but beats estimates

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

The company's earnings came in at $34.0 million, or $0.19 per share. This compares with $78.9 million, or $0.44 per share, in last year's third quarter.

Excluding items, Cognex Corp reported adjusted earnings of $0.21 per share for the period.

Analysts on average had expected the company to earn $0.14 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 26.4% to $209.6 million from $284.8 million last year.

Cognex Corp earnings at a glance (GAAP) :

-Earnings (Q3): $34.0 Mln. vs. $78.9 Mln. last year. -EPS (Q3): $0.19 vs. $0.44 last year. -Analyst Estimates: $0.14 -Revenue (Q3): $209.6 Mln vs. $284.8 Mln last year.

-Guidance: Next quarter revenue guidance: $235.-$255 mln