Cognex Corp Q4 Profit Decreases, but beats estimates

(RTTNews) - Cognex Corp (CGNX) released a profit for fourth quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $53.5 million, or $0.30 per share. This compares with $69.3 million, or $0.39 per share, in last year's fourth quarter.

Excluding items, Cognex Corp reported adjusted earnings of $53.98 million or $0.30 per share for the period.

Analysts on average had expected the company to earn $0.22 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 9.2% to $244.1 million from $223.6 million last year.

Cognex Corp earnings at a glance (GAAP) :

-Earnings (Q4): $53.5 Mln. vs. $69.3 Mln. last year. -EPS (Q4): $0.30 vs. $0.39 last year. -Analyst Estimates: $0.22 -Revenue (Q4): $244.1 Mln vs. $223.6 Mln last year.

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