CGNX Q3 2017 Earnings Report — Cognex Corporation Revenue & Financial Results | Market Cap Arena

Cognex CorporationCGNX

Q3 2017 Earnings

Reported October 30, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2017	Q2 2017	Q3 2016	QoQ Change	YoY Change
Revenue	$266M	—	$148M	—	79.8%
Op. Income	$111M	—	$55M	—	103.3%
Gross Margin	74.4%	—	77.9%	—	-3.4pp
Net Margin	38.5%	—	36.3%	—	2.2pp
EPS (Diluted)	$0.57	—	$0.31	—	83.9%
Free Cash Flow	$42M	—	$52M	—	-20.4%

Revenue Flow

Item	Amount
REVENUE	$266M
Cost of Revenue	$68M
GROSS PROFIT	$198M
R&D Expenses	$26M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$61M
Other Expenses	$0
Operating Expenses	$87M
Cost & Expenses	$155M
OPERATING INCOME	$111M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$113M
Income Tax Expense	$10M
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$102M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$102M
D&A	$4M
EBIT	$111M
EBITDA	$115M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$266M
Cost of Revenue	$68M
GROSS PROFIT	$198M
R&D Expenses	$26M
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$61M
Other Expenses	$0
Operating Expenses	$87M
Cost & Expenses	$155M
OPERATING INCOME	$111M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$2M
INCOME BEFORE TAX	$113M
Income Tax Expense	$10M
Net Income from Continuing Ops	$102M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$102M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$102M
D&A	$4M
EBIT	$111M
EBITDA	$115M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$102M
Depreciation & Amortization	$4M
Stock-Based Compensation	$8M
Deferred Income Tax	-$5M
Other Non-Cash Items	-$7.0K
Change in Working Capital	-$60M
OPERATING CASH FLOW	$49M
Capital Expenditure	-$8M
Acquisitions (Net)	$1M
Purchases of Investments	-$111M
Sales/Maturities of Investments	$148M
Other Investing Activities	$38M
NET CASH FROM INVESTING	$31M
Net Debt Issuance	$0
Common Stock Repurchased	-$37M
Common Dividends Paid	-$7M
Other Financing Activities	$8M
NET CASH FROM FINANCING	-$37M
FREE CASH FLOW	$42M
Net Change in Cash	$43M

Balance Sheet

Item	Amount
Cash & Equivalents	$111M
Short-Term Investments	$273M
Net Receivables	$174M
Inventory	$48M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$645M
PP&E (Net)	$66M
Goodwill	$113M
Intangible Assets	$14M
Long-Term Investments	$387M
Tax Assets	$31M
Other Non-Current Assets	$3M
TOTAL NON-CURRENT ASSETS	$613M
TOTAL ASSETS	$1.3B
Account Payables	$30M
Short-Term Debt	$0
Deferred Revenue	$16M
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$110M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$6M
Other Non-Current Liabilities	$10M
TOTAL NON-CURRENT LIABILITIES	$15M
TOTAL LIABILITIES	$125M
Common Stock	$173.0K
Additional Paid-In Capital	$443M
Retained Earnings	$727M
Treasury Stock	$0
Accum. Other Comp. Income	-$37M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.1B
Minority Interest	$0
TOTAL EQUITY	$1.1B
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$0
Net Debt	-$111M