Shares of Cognex (NASDAQ: CGNX), a maker of machine-vision systems used to automate manufacturing processes, were tumbling today after the company reported worse-than-expected fourth-quarter results and issued lackluster first-quarter guidance.

The stock was down by 14.3% as of 11:50 a.m. ET. 

Cognex reported non-GAAP (generally accepted accounting principles) adjusted earnings of $0.27 for the fourth quarter, which was down from $0.30 in the year-ago quarter and below analysts' consensus estimate of $0.32 per share. 

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Source Fool.com