CGNX FY 2019 Earnings Report — Cognex Corporation Revenue & Financial Results | Market Cap Arena

Cognex CorporationCGNX

FY 2019 Earnings

Reported February 13, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2019	Prior Q	FY 2018	QoQ Change	YoY Change
Revenue	$726M	—	$806M	—	-10.0%
Op. Income	$143M	—	$221M	—	-35.5%
Gross Margin	73.8%	—	74.4%	—	-0.6pp
Net Margin	28.1%	—	27.2%	—	0.9pp
EPS (Diluted)	$1.16	—	$1.24	—	-6.5%
Free Cash Flow	$232M	—	$186M	—	24.3%

Revenue Flow

Item	Amount
REVENUE	$726M
Cost of Revenue	$190M
GROSS PROFIT	$536M
R&D Expenses	$119M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$274M
Other Expenses	$0
Operating Expenses	$393M
Cost & Expenses	$583M
OPERATING INCOME	$143M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$20M
INCOME BEFORE TAX	$163M
Income Tax Expense	-$41M
Net Income from Continuing Ops	$204M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$204M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$204M
D&A	$25M
EBIT	$143M
EBITDA	$168M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$726M
Cost of Revenue	$190M
GROSS PROFIT	$536M
R&D Expenses	$119M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$274M
Other Expenses	$0
Operating Expenses	$393M
Cost & Expenses	$583M
OPERATING INCOME	$143M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$20M
INCOME BEFORE TAX	$163M
Income Tax Expense	-$41M
Net Income from Continuing Ops	$204M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$204M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$204M
D&A	$25M
EBIT	$143M
EBITDA	$168M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$204M
Depreciation & Amortization	$25M
Stock-Based Compensation	$46M
Deferred Income Tax	-$95M
Other Non-Cash Items	$2M
Change in Working Capital	$72M
OPERATING CASH FLOW	$253M
Capital Expenditure	-$22M
Acquisitions (Net)	-$167M
Purchases of Investments	-$1.0B
Sales/Maturities of Investments	$1.1B
Other Investing Activities	$0
NET CASH FROM INVESTING	-$157M
Net Debt Issuance	$0
Common Stock Repurchased	-$62M
Common Dividends Paid	-$35M
Other Financing Activities	$65M
NET CASH FROM FINANCING	-$32M
FREE CASH FLOW	$232M
Net Change in Cash	$63M

Balance Sheet

Item	Amount
Cash & Equivalents	$171M
Short-Term Investments	$240M
Net Receivables	$108M
Inventory	$60M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$607M
PP&E (Net)	$107M
Goodwill	$243M
Intangible Assets	$39M
Long-Term Investments	$433M
Tax Assets	$450M
Other Non-Current Assets	$6M
TOTAL NON-CURRENT ASSETS	$1.3B
TOTAL ASSETS	$1.9B
Account Payables	$18M
Short-Term Debt	$0
Deferred Revenue	$14M
Other Current Liabilities	$11M
TOTAL CURRENT LIABILITIES	$120M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$344M
Other Non-Current Liabilities	$54M
TOTAL NON-CURRENT LIABILITIES	$410M
TOTAL LIABILITIES	$530M
Common Stock	$345.0K
Additional Paid-In Capital	$639M
Retained Earnings	$753M
Treasury Stock	$0
Accum. Other Comp. Income	-$37M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.4B
Minority Interest	$0
TOTAL EQUITY	$1.4B
TOTAL LIABILITIES & EQUITY	$1.9B
Total Debt	$18M
Net Debt	-$153M