News

FOR IMMEDIATE RELEASE

NATICK, MA, USA novembro 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

 

Sobre a Cognex Corporation

A Cognex Corporation projeta, desenvolve, fabrica e vende uma ampla gama de produtos baseados em imagem, que usam técnicas de inteligência artificial (IA) que dão a eles uma habilidade quase humana para tomar decisões sobre o que eles “veem”. Os produtos da Cognex incluem sistemas e sensores de visão e leitores de código de barras, usados em fábricas e centros de distribuição em todo o mundo, eliminando erros de produção e de remessa.

A Cognex é líder mundial no setor de sistemas de visão, tendo entregue mais de 2 milhões de produtos baseados em imagem, representando mais de $ 7 bilhões em receita acumulada, desde a fundação da empresa em 1981. Com sede em Natick, Massachusetts, EUA, a Cognex tem escritórios e distribuidores localizados nas Américas, Europa e Ásia. Para detalhes, visite a Cognex on-line em www.cognex.com.

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