Cognex Celebrates 40 Years of Machine Vision Leadership
November 30 2021 - 8:06AM
Business Wire
Cognex Corporation (NASDAQ: CGNX), the leader in industrial
machine vision, announced that CEO Robert J. Willett will visit the
Nasdaq MarketSite in Times Square today and ring the opening bell
at 9:30 a.m. Eastern Standard Time. The company is commemorating
its 40th anniversary. Willett will be joined on the bell podium by
a group of Cognoids, including members of the Cognex Leadership
Team and the company’s Chairman, Anthony Sun.
“For four decades, manufacturers around the world have relied on
Cognex machine vision to improve product quality, eliminate
production errors, and drive down manufacturing costs,” said Robert
J. Willett, Chief Executive Officer of Cognex. “We have a lot to
celebrate today,” continued Willett, “not only is it Cognex’s
fortieth anniversary, but we have also just surpassed $1 billion in
annual bookings for the first time in our history.”
Founded in 1981 by Dr. Robert J. Shillman, Cognex has pioneered
the field of machine vision. Today, machine vision plays a critical
role in factories and distribution centers around the world. For
more information on Cognex and the history of machine vision, visit
Cognex’s website at www.cognex.com..
“Annual bookings” is an internal operating metric that reflects
customer purchase orders with firm requested delivery dates.
Bookings are not necessarily indicative of future revenue as
delivery schedules may be extended and orders may be canceled.
About Cognex
Cognex Corporation designs, develops, manufactures, and markets
a wide range of image-based products, all of which use artificial
intelligence (AI) techniques that give them the human-like ability
to make decisions on what they see. Cognex products include machine
vision systems, machine vision sensors, and barcode readers that
are used in factories and distribution centers around the world
where they eliminate production and shipping errors.
Cognex is the world's leader in the machine vision industry,
having shipped more than 3 million image-based products,
representing over $8 billion in cumulative revenue, since the
company's founding in 1981. Headquartered in Natick, Massachusetts,
USA, Cognex has offices and distributors located throughout the
Americas, Europe, and Asia. For details, visit Cognex online at
www.cognex.com.
Certain statements made in this news release, which do not
relate solely to historical matters, are forward-looking
statements. These statements can be identified by use of the words
“expects,” “anticipates,” “estimates,” “believes,” “projects,”
“intends,” “plans,” “will,” “may,” “shall,” “could,” “should,” and
similar words and other statements of a similar sense. These
statements are based on our current estimates and expectations as
to prospective events and circumstances, which may or may not be in
our control and as to which there can be no firm assurances given.
These forward-looking statements, which include statements
regarding business and market trends, future financial performance,
the expected impact of the COVID-19 pandemic on our assets,
business and results of operations, customer demand and order rates
and timing of related revenue, managing supply shortages, future
product mix, restructuring and other cost-savings initiatives,
research and development activities, sales and marketing
activities, new product offerings, capital expenditures,
investments, liquidity, dividends and stock repurchases, strategic
and growth plans, and estimated tax benefits and expenses and other
tax matters, involve known and unknown risks and uncertainties that
could cause actual results to differ materially from those
projected. Such risks and uncertainties include: (1) the impact,
duration, and severity of the COVID-19 pandemic; (2) potential
disruptions to our business due to restructuring activities; (3)
the loss of, or curtailment of purchases by, large customers in the
consumer electronics and logistics industries; (4) the reliance on
revenue from the automotive industry; (5) the reliance on key
suppliers to manufacture and deliver critical components for our
products; (6) disruptions in the supply chain, which could impact
timely delivery of customer orders, cause customer orders to
decrease, or increase costs to fulfill orders, including costs for
components or freight; (7) the failure to effectively manage
product transitions or accurately forecast customer demand; (8) the
inability to design and manufacture high-quality products; (9) the
inability to attract and retain skilled employees and maintain our
unique corporate culture; (10) the failure to effectively manage
our growth; (11) the inability to achieve growth in revenue and
profits from the logistics industry; (12) the technological
obsolescence of current products and the inability to develop new
products; (13) the failure to properly manage the distribution of
products and services; (14) the impact of competitive pressures;
(15) the challenges in integrating and achieving expected results
from acquired businesses; (16) potential disruptions in our
business systems; (17) information security breaches and
cyber-attacks; (18) the inability to protect our proprietary
technology and intellectual property; (19) potential impairment
charges with respect to our investments or acquired intangible
assets; (20) exposure to additional tax liabilities; (21)
fluctuations in foreign currency exchange rates and the use of
derivative instruments; (22) our involvement in time-consuming and
costly litigation; (23) unfavorable global economic conditions; and
(24) economic, political, and other risks associated with
international sales and operations; and the other risks detailed in
Cognex reports filed with the SEC, including its Form 10-K for the
fiscal year ended December 31, 2020 and Form 10-Q for the fiscal
quarter ended October 3, 2021. You should not place undue reliance
upon any such forward-looking statements, which speak only as of
the date made. Cognex disclaims any obligation to update
forward-looking statements after the date of such statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211130005394/en/
Liz Bradley Corporate Communications +1 857-891-5531
liz.bradley@cognex.com
Susan Conway Investor Relations +1 508-650-3353
susan.conway@cognex.com
Cognex (NASDAQ:CGNX)
Historical Stock Chart
From Mar 2024 to Apr 2024
Cognex (NASDAQ:CGNX)
Historical Stock Chart
From Apr 2023 to Apr 2024