Cognex Corporation (NASDAQ: CGNX) today announced that it will delay the filing of its Form 10-Q for the second quarter ended July 1, 2007 and has filed a Form 12b-25 with the Securities and Exchange Commission (SEC) that provides the company with five additional calendar days (until August 15, 2007) within which to file its Form 10-Q for the second quarter. The delay is necessary due to the company’s voluntary review of irregularities that it discovered in certain transactions originating at its Japanese subsidiary, which was announced on July 25, 2007. Cognex intends to file its Form 10-Q as soon as practicable after the review is completed, but is unable to predict the exact date of filing at this time.
About Cognex Corporation
Cognex Corporation designs, develops, manufactures, and markets machine vision sensors and systems, or devices that can “see.” Cognex vision sensors are used in factories around the world to automate the manufacture of a wide range of items and to assure their quality. Cognex is the world’s leader in the machine vision industry, having shipped more than 350,000 machine vision systems, representing over $2 billion in cumulative revenue, since the company’s founding in 1981. In addition to its corporate headquarters in Natick, Massachusetts, Cognex also has regional offices and distributors located throughout North America, Japan, Europe, Asia, and Latin America. Visit Cognex on-line at http://www.cognex.com/.
Forward-Looking Statements
Certain statements made in this press release, which do not relate solely to historical matters, are forward-looking statements. You can identify these forward-looking statements by use of the words “expects,”“anticipates,” ”estimates,”“believes,” “projects,”“intends,” “plans,”“will,” “may,”“should,” “shall” and similar words. These forward-looking statements, which include statements regarding business trends, revenue growth and the company’s financial outlook, involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include: (1) global economic conditions that impact the capital spending trends of manufacturers in a variety of industries; (2) the cyclicality of the semiconductor and electronics industries; (3) the reliance upon certain sole-source suppliers to manufacture and deliver critical components for the company’s products; (4) the inability to design and manufacture high-quality products; (5) the technological obsolescence of current products and the inability to develop new products; (6) the inability to protect the company’s proprietary technology and intellectual property; (7) the challenges in integrating acquisitions and achieving anticipated benefits; (8) the failure to effectively manage product transitions or accurately forecast customer demand; (9) the inability to attract and retain skilled employees; and (10) the other risks detailed in the company’s reports filed with the SEC, including the company’s Form 10-K for the fiscal year ended December 31, 2006. You should not place undue reliance upon any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation to update forward-looking statements after the date of such statements.
Contacts:
Susan Conway, 508-650-3353
Director of
Investor Relations
susan.conway@cognex.com
