NATICK, MA – Cognex reported first-quarter revenue increased 25% year-over-year, setting a record in the process.

The firm attributes growth to the factory automation market, where revenue increased 26% over the same period in 2014.

On a sequential basis, revenue declined 3% as a result of lower surface inspection revenue, down from the record level achieved in the fourth quarter of last year. This decline was partially offset by higher revenue from factory automation, which increased despite the typical seasonal softness experienced in the first quarter, says Cognex. Revenue from the semiconductor and electronics capital equipment market also increased.

“Cognex started 2015 on a strong note,” said chairman Dr. Robert J. Shillman. “Revenue grew 25% year-on-year to a record first quarter level, driving the highest first-quarter net income in Cognex’s 34-year history.”

As of April 5, Cognex had no debt and $549 million in cash and investments. Inventory increased by $13 million, or 36%, from the end of 2014.

Cognex expects second quarter revenue between $152 million and $157 million.

Cognex, barcode reader, machine vision sensor, machine vision, Q1, 2015, Dr. Robert J. Shillman

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