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Strong earnings in consumer technology, logistics, and e-commerce, highlighted by Greater-China-based customers generating a three-month, year-over-year revenue increase of more than 150%, propelled Cognex to a strong third quarter ending Sept. 27. The machine vision developer and manufacturer reported sequential improvements in its automotive and factory automation markets despite the difficult business environment, on its way to a quarterly revenue of more than $251 million.
The company reported a year-over-year quarterly revenue increase of 37%. Cognex earnings per share (EPS) reached 49 cents, a year-over-year increase of 104%.
“Our results for [quarter three] were very good and above our expectations,” said…READ MORE