Cognex Projects Q4 Revenue Above Analysts' Estimates - Quick Facts

(RTTNews) - Cognex Corp. (CGNX) announced, for fourth-quarter, the company expects revenue to be between $115 million and $118 million. The company said, while the range represents a decline from both second and third quarters of 2016 due to large customer deployments in these prior periods that are not expected to repeat in fourth-quarter, it represents an increase of between 18% and 21% year-on-year. Gross margin is expected to be in the mid-to-high 70% range. Analysts polled by Thomson Reuters expect the company to report revenue of $111.9 million.

Third-quarter revenue increased 38% from last year. The company said a notable contributor to growth year-on-year was large orders from the consumer electronics industry. Growth also came from other industries, including automotive. Gross margin was 78% compared to 76%. Gross margin increased due to a revenue mix towards higher margin products.