China Continues to Weigh on Cognex's Results
After three challenging quarters leading up to Cognex's (NASDAQ: CGNX) fourth-quarter financial report, shareholder expectations were extremely low. The machine-vision leader has banged the drum all year about the challenging conditions facing the industrial markets that it serves. China was particularly vulnerable, after a lengthy trade war and general economic weakness, and matters have only gotten worse with the outbreak of the novel coronavirus that has paralyzed much of that country.
Cognex delivered results that exceeded its forecast but said they "reflect the serious challenges we faced in 2019 due to the deterioration of business conditions," particularly in China and Europe.
A robotic arm using machine vision on a cellphone assembly line. Image source: Getty Images.
Source Fool.com
