Cognex Reinstates Quarterly Cash Dividend

May 4, 2015 | By Business Wire News

NATICK, Mass.

Cognex Corporation (NASDAQ: CGNX) announced today that the company’s Board of Directors declared a quarterly cash dividend of $0.07 per share. This dividend is payable on June 19, 2015 to all shareholders of record at the close of business on June 5, 2015.

“This is the first cash dividend declared by Cognex since the ‘very special’ dividend in the fourth quarter of 2012 when we rewarded shareholders by prepaying eight quarters’ worth of dividends in advance of changes in federal tax laws that increased the tax on dividends,” said Dr. Robert J. Shillman, Chairman and Chief Culture Officer of Cognex. “Cognex has been highly profitable in those two years…even while investing heavily in both engineering and sales to fuel our growth…and we are happy to once again share our success in a tangible way with our shareholders.”

“Cognex’s ongoing success enables us to use our cash to return immediate value to our shareholders both through the payment of dividends and through our share repurchase plan,” said Robert J. Willett, Chief Executive Officer of Cognex. “The Board’s approval of the dividend and the continuation of the share repurchase program underscores its confidence in our company’s future.”

About Cognex Corporation

Cognex Corporation designs, develops, manufactures and markets a range of products that incorporate sophisticated machine vision technology that gives them the ability to “see.” Cognex products include barcode readers, machine vision sensors and machine vision systems that are used in factories, warehouses and distribution centers around the world to guide, gauge, inspect, identify and assure the quality of items during the manufacturing and distribution process. Cognex is the world’s leader in the machine vision industry, having shipped more than 1 million vision-based products, representing over $4 billion in cumulative revenue, since the company’s founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has regional offices and distributors located throughout the Americas, Europe and Asia. For details visit Cognex online at http://www.cognex.com.

Certain statements made in this news release, which do not relate solely to historical matters, are forward-looking statements.These statements can be identified by use of the words “expects,” “anticipates,” “estimates,” “believes,” “projects,” “intends,” “plans,” “will,” “may,” “shall,” “could,” “should,” and similar words and other statements of a similar sense.These forward-looking statements, which include statements regarding business and market trends, future financial performance, future dividends and share repurchases, investments, and strategic plans, involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected.Such risks and uncertainties include: (1) the loss of a large customer; (2) current and future conditions in the global economy; (3) the reliance on revenue from the consumer electronics or automotive industries; (4) the inability to penetrate new markets; (5) the cyclicality of the semiconductor and electronics industries; (6) the inability to achieve significant international revenue; (7) fluctuations in foreign currency exchange rates and the use of derivative instruments; (8) the inability to attract and retain skilled employees; (9) the reliance upon key suppliers to manufacture and deliver critical components for our products; (10) the failure to effectively manage product transitions or accurately forecast customer demand; (11) the inability to design and manufacture high-quality products; (12) the technological obsolescence of current products and the inability to develop new products; (13) the failure to properly manage the distribution of products and services; (14) the inability to protect our proprietary technology and intellectual property; (15) our involvement in time-consuming and costly litigation; (16) the impact of competitive pressures; (17) the challenges in integrating and achieving expected results from acquired businesses; (18) potential impairment charges with respect to our investments or for acquired intangible assets or goodwill; (19) exposure to additional tax liabilities; (20) information security breaches or business system disruptions; and (21) the other risks detailed in Cognex reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2014.You should not place undue reliance upon any such forward-looking statements, which speak only as of the date made.Cognex disclaims any obligation to update forward-looking statements after the date of such statements.