Cognex Corp Q3 Profit Decreases, but beats estimates

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

The company's earnings came in at $18.916 million, or $0.11 per share. This compares with $33.980 million, or $0.19 per share, in last year's third quarter.

Excluding items, Cognex Corp reported adjusted earnings of $27.931 million or $0.16 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 5.9% to $197.241 million from $209.622 million last year.

Cognex Corp earnings at a glance (GAAP) :

-Earnings (Q3): $18.916 Mln. vs. $33.980 Mln. last year. -EPS (Q3): $0.11 vs. $0.19 last year. -Analyst Estimates: $0.14 -Revenue (Q3): $197.241 Mln vs. $209.622 Mln last year.

-Guidance: Next quarter revenue guidance: $175 to 195 Mln