NATICK, Mass.--(BUSINESS WIRE)--
Cognex
Corporation (
NASDAQ: CGNX) today announced that its Board of
Directors authorized the purchase of up to
$100 million of
Cognex common
stock in open market transactions. This new authorization is in addition
to the
$100 million stock purchase program that was announced by
Cognex
on
August 3, 2015, of which
$16 million remains available. Purchases
under the new authorization can commence once
Cognex completes the
existing program, and will be subject to market conditions and other
relevant factors.
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, customer order rates, expected areas of growth,
future product and customer mix, research and development activities,
collections, future stock 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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20151102006585/en/
Cognex Corporation
Susan Conway, 508-650-3353
Senior Director
of Investor Relations
susan.conway@cognex.com
Source: Cognex Corporation
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