NATICK, MA, USA novembre 13, 2008
Cognex Announces Cost-Cutting Measures
NATICK, MA, November 13, 2008 — Cognex Corporation (NASDAQ: CGNX) today announced that it has taken meaningful steps to cut expenses to help ensure that it will continue profitable operations during these difficult economic times. The reduction in expenses was accomplished through a number of different measures, the most meaningful ones of which are 1) the closing of the company’s facility in Georgia scheduled for mid-2009, and 2) the elimination of 60 full-time positions (approximately 7% of its worldwide headcount), primarily in the United States. After the one-time effects of these cuts, projected savings from the actions described above are estimated to be approximately $6,000,000 on an annual basis, and are expected to be fully realizable beginning in 2010.
As a result of the actions that the company has taken, Cognex expects to record a pre-tax charge of approximately $700,000 in the fourth quarter of 2008 (this full amount was included in the guidance given by Cognex on October 29, 2008). And in the first half of 2009, Cognex expects to record an additional charge of approximately $1,700,000 related to the facility closure. The distribution center that is currently based in Georgia will be consolidated into the company’s headquarters in Natick, Massachusetts.
“The actions announced today were not made easily; the individuals who were let go were all hardworking, experienced and dedicated employees; but unfortunately the actions were necessary to ensure the continued profitability of our company,” said Dr. Robert J. Shillman, the Chairman and Chief Executive Officer of Cognex. “Given the rather bleak economic outlook and the expectation that conditions will not improve soon, it is important to align our expenses as quickly as possible to the lower level of business that we anticipate in 2009. The difficult steps that we have taken should allow us to maintain our long record of profitable operations, even as we continue to invest in strategic initiatives to ensure the long-term success of our company.”
INVESTOR CONTACT:
Susan Conway
Director of Investor Relations
Cognex Corporation
(508) 650-3353
BUSINESS PRESS:
Robin Pratt
Senior Manager, Corporate Communications
Cognex Corporation
(508) 650-3384
Cognex Corporation (aussi appelée « l’Entreprise » ou « Cognex ») invente et commercialise des technologies conçues pour relever certains des défis majeurs en matière de fabrication et de distribution. Nous sommes l’un des principaux fournisseurs de produits et de solutions de vision industrielle dans le monde. Notre objectif est d’améliorer l’efficacité et la qualité des activités à fort potentiel de croissance sur des marchés finaux industriels attrayants. Nos solutions combinent du matériel et des logiciels pour saisir et analyser des informations visuelles, permettant ainsi d’automatiser les tâches de fabrication et de distribution pour des clients du monde entier. Les produits de vision industrielle sont utilisés pour automatiser la fabrication ou la distribution et le suivi d’articles distincts, tels que les téléphones portables, les batteries de véhicules électriques et les colis d’e-commerce. Pour cela, ils doivent être localisés, identifiés, inspectés et mesurés. La vision industrielle est importante pour les applications dans lesquelles la vision humaine n’est pas suffisante pour répondre aux exigences de taille, de précision ou de vitesse, ou dans les cas où des économies substantielles ou des améliorations de la qualité sont maintenues.
Leader mondial de la vision industrielle, Cognex a livré plus de 4 millions de produits de vision industrielle, équivalant à plus de 10 milliards de dollars de revenu accumulé, depuis la création de la société en 1981. Outre son siège à Natick, Massachusetts, États-Unis, Cognex possède des bureaux et des distributeurs en Amérique, en Europe et en Asie. Pour plus d’informations, consultez le site Web de Cognex www.cognex.com.
