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EX - 99.1 2 a52425243ex99 1.htm EXHIBIT 99.1 Cognex Reports Record First Quarter Results NATICK , Mass .-- ( BUSINESS WIRE ) -- May 6 , 2021 -- Cognex Corporation ( NASDAQ : CGNX ) today reported financial results for the first quarter of 2021. The company announced new records for first quarter revenue , net income , and net income per diluted share . Table 1 below shows selected financial data for Q1-21 compared with Q1-20 and Q4-20 . Table 1 ( Dollars in thousands , except per share amounts ) Revenue Net Income Quarterly Comparisons Current quarter : Q1-21 $ 239,027 $ 69,848 Prior year's quarter : Q1-20 $ 167,235 $ 20,477 Change : Q1-20 to Q1-21 43 % 241 % Prior quarter : Q4-20 Change : Q4-20 to Q1-21 $ 223,615 7 % $ 69,345 1 % Non - GAAP Net Income Net Income per Diluted per Diluted Share Share * $ 0.39 $ 0.12 225 % $ 0.39 0 % Exhibit 99.1 $ 0.36 $ 0.11 227 % $ 0.32 13 % * Non - GAAP net income per diluted share excludes restructuring and other charges and tax adjustments . A reconciliation from GAAP to Non - GAAP is shown in Exhibit 2 of this news release . " Cognex started 2021 on a strong note , " said Robert J. Willett , Chief Executive Officer of Cognex . " We reported the highest first quarter revenue , net income , and earnings per share in our company's 40 - year history . We were highly profitable —― reporting an operating margin of 33 % in Q1-21 compared to 13 % a year ago - demonstrating the leverage we have in our high - growth , high gross margin business model . " Mr. Willett continued , “ We are pleased with our achievements in the first quarter . Our strong momentum continued in the e - commerce sector of logistics . Business activity has been recovering in other end markets that have struggled over the past year . Most importantly , we introduced several innovative products in the areas of 3D vision , edge intelligence , and handheld barcode reading that we believe will contribute to revenue growth in years to come . "