Challenging Times Weigh on Cognex's Bottom Line
It's been a tough couple of years for Cognex (NASDAQ: CGNX) investors. After suffering through slowing economic growth in China and a trade war that added insult to injury, it's fair to say the COVID-19 pandemic couldn't have come at a more challenging time for the company.
Its industry-leading machine-vision systems help ensure quality control on production lines, read barcodes to keep track of packages and inventory, and automate measurements and calibration in products. With many of these facilities shuttered in the face of coronavirus, the company's much-needed recovery has been put on hold.
Cognex reported first-quarter results that were in line with management's guidance, but it said, "that is little comfort in these very challenging times." The company cited "significant disruptions" to its business, suggesting that the worst may not be over.
Source Fool.com
