Cognex Corp (CGNX) founder:The risks to our ongoing success have increased significantly

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Cognex Corporation (NASDAQ: CGNX) today disclosed Q1 2020 financial results. Table below shows exact financial data compared to previous year.

Table 1(Dollars in thousands, except per share amounts)

   Revenue   Net Income Net Income
per Diluted
Share
Non-GAAP
Net Income
per Diluted
Share*
Quarterly Comparisons    
Current quarter: Q1-20$167,235$20,477$0.12$0.11
Prior year’s quarter: Q1-19$173,484$33,104$0.19$0.17
Change: Q1-19 to Q1-20(4%)(38%)(37%)(35%)
Prior quarter: Q4-19$169,769$80,327$0.46$0.11
Change: Q4-19 to Q1-20(1%)(75%)(74%)0%

The risks to our ongoing success have increased significantly due to the economic impact of the limitations on travel and other restrictive measures mandated by governments around the world in recent weeks. We are fortunate to have an experienced management team, a very strong balance sheet, and a unique corporate culture that will help us navigate through this difficult period and emerge in an even stronger position relative to our competitors, as we have done in prior downturns.”-said Dr. Robert J. Shillman, Founder and Chairman of Cognex

“Companies around the world, including ours, are facing significant disruptions in their businesses,” said Robert J. Willett, CEO of Cognex. “While some customers are accelerating activity, notably companies in China and in e-commerce fulfillment, many others are struggling to implement capital spending plans or are putting those investments on hold.”

Cognex will host a conference call today at 5:00 p.m. EDT and the conference call or an archived recording will be accessible on Investors page.