NATICK, Mass.--(BUSINESS WIRE)--
Cognex
Corporation (NASDAQ: CGNX) announced today that the company's Board
of Directors declared a quarterly cash dividend of
$0.11 per share,
payable on
June 15, 2012, to all shareholders of record at the close of
business on
June 1, 2012. This dividend represents an increase of
$0.01
per share, or 10% over the
$0.10 per share dividend paid in the prior
quarter.
Cognex has increased its dividend by 120% since the beginning
of 2010.
"The dividend increase announced today is the fifth increase in the past
two years," said Dr. Robert J. Shillman, Chairman of Cognex. "It
demonstrates the confidence that the Board of Directors has in Cognex's
financial strength, and in our ability to generate strong cash flows."
"Cognex has been highly profitable over the past two years even while
investing in research and development and sales and marketing to fuel
future growth," said Robert J. Willett, Chief Executive Officer of
Cognex. "We are happy to share our success in a tangible way with our
shareholders."
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 750,000
vision-based products, representing over $3 billion in cumulative
revenue, since the company's founding in 1981. Headquartered in Natick,
Massachusetts, USA, Cognex has regional offices and distributors located
throughout North America, Japan, Europe, Asia and Latin America. For
details visit Cognex online at http://www.cognex.com.
Certain statements made in this press 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. These
forward-looking statements, which include statements regarding future
financial performance, profitability, cash flows and growth, involve
known and unknown risks and uncertainties that could cause actual
results to differ materially from those projected. Such risks and
uncertainties include: (1) current and future conditions in the global
economy; (2) the cyclicality of the semiconductor and electronics
industries; (3) the inability to penetrate new markets; (4) the
inability to achieve significant international revenue; (5) fluctuations
in foreign currency exchange rates; (6) the loss of a large customer;
(7) the inability to attract and retain skilled employees; (8) the
reliance upon key suppliers to manufacture and deliver critical
components for Cognex products; (9) the failure to effectively manage
product transitions or accurately forecast customer demand; (10) the
inability to design and manufacture high-quality products; (11) the
technological obsolescence of current products and the inability to
develop new products; (12) the failure to properly manage the
distribution of products and services; (13) the inability to protect
Cognex proprietary technology and intellectual property; (14)
involvement in time-consuming and costly litigation; (15) the impact of
competitive pressures; (16) the challenges in integrating and achieving
expected results from acquired businesses; (17) potential impairment
charges with respect to Cognex's investments or for acquired intangible
assets or goodwill; (18) exposure to additional tax liabilities; (19)
information security breaches or business systems disruptions; and (20)
the other risks detailed in Cognex reports filed with the SEC,
including its Form 10-K for the fiscal year ended December 31, 2011. 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.
Cognex Corporation
Susan Conway, 508-650-3353
Director of
Investor Relations
susan.conway@cognex.com
Source: Cognex Corporation
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