RTTNews | Feb 12, 2021 10:13AM EST

10:12 Friday, February 12, 2021 (RTTNews.com) - Shares of machine vision systems, software and sensors maker Cognex Corporation (CGNX) are climbing more than 9% Friday morning after reporting better-than-expected fourth-quarter results. The company also provided first-quarter revenue outlook, better than the Street view.

Net income in the fourth quarter was $69.35 million or $0.39 per share compared with $80.33 million or $0.46 per share in the same quarter a year ago.

Excluding items, adjusted EPS of $0.32 per share beat the average estimate of analysts polled by Thomson Reuters at $0.28 per share.

Revenue for the quarter increased 32% year-over-year to $223.62 million.

Looking forward to the first quarter, Cognex expects revenue to be between $225 million and $245 million. The consensus estimate is for $194.23 million.

CGNX touched a new 52-week high of $101.82 this morning, before slipping to $98.34currently.

Read the original article on RTTNews ( https://www.rttnews.com/3169478/stock-alert-cognex-touches-new-high-after-reporting-upbeat-quarterly-results.aspx)

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