NEWS


Cognex revenue falls 21% due to weak electronics market


Cognex’s revenue was down 21 per cent year-on-year in the third quarter of 2019, amounting to $183m. The result reflects lower sales to customers in consumer electronics, particularly smartphone manufacturing. Revenue from automotive and other industrial markets also continued to weaken on a sequential basis. The decline was partially


Framos establishes AI spin-off Cubemos


Framos has differentiated its AI spin-off by renaming it Cubemos. Te Cubemos entity focuses on deep


learning and AI development, helping industrial customers to integrate AI vision solutions. Cubemos designs and implements


proximal edge applications with AI functionality, providing software solutions and products around imaging and AI. Te Munich-based company, as part of Framos Holdings, helps customers to benefit from AI implementations in real- time applications like retail, infrastructure, transport, mobility and industrial automation. Cubemos has launched the Skeleton SDK as its first in-house software product. Tis


From left: Dr Christopher Scheubel, Patrick Bilic and Dr Andreas Franz


offset by strong growth during the quarter in logistics. Dr Robert Shillman, founder and chairman of Cognex, commented: ‘It is frustrating to report a decline in revenue, both year-over-year and sequentially, due to the ongoing slowdown in spending by customers in our two largest markets, consumer electronics and automotive.’ Revenue for Q4-19 is


software launch is in addition to running many successful industry projects. ‘Te re-naming of the AI spin-off to


Cubemos is the starting point to seed our own culture and footprint in the market, and to provide continuous growth,’ said Cubemos’ CEO Dr Christopher Scheubel. Cubemos was founded in 2018 after Dr Andreas Franz and Dr Christopher Scheubel, from Framos, had identified a strong industry need to analyse imaging data with AI. Together with CTO Patrick Bilic, they started their own business model, completely independent from Framos. After successfully running several AI


projects, the team launched its first product, an AI skeleton tracking SDK optimised for Intel RealSense cameras.


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expected to be between $155m and $165m. This range represents the lowest revenue- generating quarter of the year, and a decline from Q4-18. In addition, Cognex expects


lower Q4 revenue, year-on- year, from logistics as a result of a major customer delaying delivery of orders for new sites. Gross margin was 74 per


cent for Q3-19 compared with 75 per cent for Q3-18, and it is expected to remain at this level for the fourth quarter of 2019. Cognex expects operating


expenses to increase by mid- to high-single digits on a sequential basis, including costs associated with the company’s acquisition of Sualab for $195m. ‘Difficult market conditions


notwithstanding, there is a lot to be excited about at Cognex, including our recent acquisition of Sualab,’ said Robert Willett, CEO of Cognex. ‘The scope of applications addressable by Cognex products continues to broaden and we are allocating resources to fast-growing areas, such as logistics and deep learning.’


DECEMBER 2019/JANUARY 2020 IMAGING AND MACHINE VISION EUROPE 7


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