Cognex Receives $40M Purchase Orders from Customer

Cognex Corporation

announced today that it has recently received two purchase orders that have a combined value of more than $40 million from a single customer. The Cognex vision systems and barcode readers will be integrated into automation equipment for high-precision manufacturing lines in Asia. Revenue from these purchase orders is expected to be recognized by Cognex in the third quarter of 2014. “These orders represent the largest amount that we have ever received from a single customer in a single quarter in the 33-year history of our company,” said Dr. Robert J. Shillman, Chairman of Cognex. “The orders are especially gratifying, given the difficult technical challenges that we were able to overcome.” “Cognex won this project after a lengthy, rigorous qualification process involving a number of our competitors,” said Robert J. Willett, Chief Executive Officer of Cognex. “We are very pleased that this customer chose Cognex for their vision and barcode reading needs. We believe that the total order size is a strong indication of the confidence that they have in Cognex's leading-edge machine vision and ID products, in the strength of our engineering team and in the quality of our global support organization.”