<SEC-DOCUMENT>0001157523-12-002281.txt : 20120430
<SEC-HEADER>0001157523-12-002281.hdr.sgml : 20120430
<ACCEPTANCE-DATETIME>20120430161654
ACCESSION NUMBER:		0001157523-12-002281
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120430
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120430
DATE AS OF CHANGE:		20120430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			COGNEX CORP
		CENTRAL INDEX KEY:			0000851205
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL [3823]
		IRS NUMBER:				042713778
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34218
		FILM NUMBER:		12795272

	BUSINESS ADDRESS:	
		STREET 1:		ONE VISION DR
		CITY:			NATICK
		STATE:			MA
		ZIP:			01760
		BUSINESS PHONE:		5086503000

	MAIL ADDRESS:	
		STREET 1:		ONE VISION DRIVE
		CITY:			NATICK
		STATE:			MA
		ZIP:			01760
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50258684.htm
<DESCRIPTION>COGNEX CORPORATION 8-K
<TEXT>
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    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>UNITED
      STATES</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Washington,
      D.C. 20549</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>FORM 8-K</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 18pt"><b>Current
      Report</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt">Pursuant to
      Section 13 or 15(d) of the</font><br><font style="font-family: Times New Roman; font-size: 12pt">Securities
      Exchange Act of 1934</font><br><br><br>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt">Date of
      Report (Date of Earliest Event Reported): April 30, 2012</font><br><br><br>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-size: 18pt"><b>COGNEX CORPORATION</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><font style="font-family: Times New Roman; font-size: 10pt">(Exact
            name of registrant as specified in charter)</font></i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-align:center">
    <table style="margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman; width: 100%; margin-left:auto;margin-right:auto" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>Massachusetts</b></font>
          </p>
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center; width: 34%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>001-34218</b>
          </p>
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>04-2713778</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><font style="font-family: Times New Roman; font-size: 10pt">(State
            or other jurisdiction of</font></i>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><font style="font-family: Times New Roman; font-size: 10pt">incorporation)</font></i>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 34%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><font style="font-family: Times New Roman; font-size: 10pt">(Commission
            File Number)</font></i>
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: center; width: 33%" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><font style="font-family: Times New Roman; font-size: 10pt">(I.R.S.
            Employer</font></i>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><font style="font-family: Times New Roman; font-size: 10pt">Identification
            No.)</font></i>
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>One
            Vision Drive</b></font>
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            <font style="font-family: Times New Roman; font-size: 10pt"><b>Natick,
            Massachusetts 01760-2059</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <i><font style="font-family: Times New Roman; font-size: 10pt">(Address,
            including zip code, of principal executive offices)</font></i>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>(508)
      650-3000</b></font>
    </p>
    <p style="text-align: center">
      <i>(Registrant's telephone number, including area code)</i>
    </p>
    <p style="text-align: center">
      <i><font style="font-family: Times New Roman; font-size: 10pt">(Former
      name or former address, if changed since last report)</font></i>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: justify">
      <br>
      <br>
      Item 2.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition
    </p>
    <p style="text-align: justify">

    </p>
    <p style="text-align: justify">
      On April 30, 2012, Cognex Corporation issued a news release to report
      its financial results for the quarter ended April 1, 2012.&#160;&#160;The release
      is furnished as Exhibit 99.1 hereto.&#160;&#160;The information in this Current
      Report on Form 8-K, including the Exhibit attached hereto, shall not be
      deemed &#8220;filed&#8221; for purposes of Section 18 of the Securities Exchange Act
      of 1934, nor shall it be deemed to be incorporated by reference in any
      filing under the Securities Act of 1933 or the Securities Exchange Act
      of 1934, regardless of any general incorporation language in such filing.
    </p>
    <p>
      Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits
    </p>
    <p style="text-align: justify">
      (d)&#160;&#160; Exhibits
    </p>
    <p style="text-align: justify">
      <u>Exhibit No.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Description</u><br><br>99.1
      &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;News release, dated April 30, 2012, by Cognex
      Corporation
    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, as amended, the
      registrant has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-size: 10pt; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td style="width: 7%">

        </td>
        <td style="width: 38%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 55%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            COGNEX CORPORATION
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 7%">

        </td>
        <td style="width: 38%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 55%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left; width: 7%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Dated:
          </p>
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 38%" valign="top">
          April 30, 2012
        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 55%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u>By: /s/ Richard A. Morin</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 7%">

        </td>
        <td style="width: 38%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 55%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Richard A. Morin
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 7%">

        </td>
        <td style="width: 38%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 55%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Executive Vice President of Finance and Administration
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 7%">

        </td>
        <td style="width: 38%">

        </td>
        <td style="padding-left: 0.0px; text-align: left; width: 55%" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            and Chief Financial Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50258684ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>Cognex
      Reports Record First Quarter Revenue</b></font>
    </p>
    <p>
      NATICK, Mass.--(BUSINESS WIRE)--April 30, 2012--Cognex Corporation
      (NASDAQ: CGNX) today announced its financial results for the first
      quarter of 2012. Selected financial data for the quarter ended April 1,
      2012, are compared to the first and fourth quarters of 2011 in Table 1
      below.
    </p>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="10">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="10" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Table 1</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Revenue</b></u>
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Net Income</b></u>
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>Net Income per</b><br><u><b>Diluted Share</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: center" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Quarterly Comparisons</b></u>
          </p>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left" valign="top">
          <b>Current quarter: Q1-12</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$77,709,000</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$14,282,000</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>$0.33</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left" valign="top">
          Prior year&#8217;s quarter: Q1-11
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          $74,394,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          $13,636,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          $0.32
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left" valign="top">
          Change from Q1-11 to Q1-12
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          4%
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          5%
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          2%
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left" valign="top">
          Prior quarter: Q4-11
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          $84,042,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          $19,099,000
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          $0. 44
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; text-align: left" valign="top">
          Change from Q4-11 to Q1-12
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          (8%)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          (25%)
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          (26%)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
    </table>
    </div>
    <p>
      &#8220;Our results for the first quarter of 2012 were very good and exceeded
      our own expectations,&#8221; said Dr. Robert J. Shillman, Chairman of Cognex.
      &#8220;We reported the highest first quarter revenue in Cognex&#8217;s 31-year
      history. We were also highly profitable, reporting an operating margin
      of 23% and a net margin of 18%, even with our continued investments for
      future growth.&#8221;
    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      &#8220;We are pleased with our performance during the quarter,&#8221; said Robert J.
      Willett, Chief Executive Officer of Cognex. &#8220;Both revenue and earnings
      increased over the prior year&#8217;s first quarter despite an ongoing
      downturn in the semiconductor and electronics capital equipment market.
      Our strong execution led to year-on-year growth in a range of industries
      including automotive, paper and consumer products.&#8221;
    </p>
    <p>
      &#8220;Based on the current order momentum, we expect to report solid
      sequential growth in revenue for the second quarter,&#8221; concluded Mr.
      Willett.
    </p>
    <p style="text-align: center">
      <u><b>Details of the Quarter</b></u>
    </p>
    <p>
      <b>Statement of Operations Highlights &#8211; First Quarter of 2012</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Revenue for the first quarter of 2012 increased 4% from the first
        quarter of 2011, and decreased 8% from the prior quarter. Revenue
        growth year-on-year came from the factory automation and surface
        inspection markets. Growth in these two markets was partially offset
        by a $6 million decline in revenue from the semiconductor and
        electronics capital equipment market (SEMI). Revenue decreased on a
        sequential basis as expected due to a typical seasonal decline in
        factory automation revenue and lower surface inspection revenue from
        the record level realized in Q4-11. SEMI revenue increased 28% from
        the prior quarter as this market began to show some signs of recovery.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross margin was 75% in the first quarter of 2012, consistent with the
        gross margin reported for both the first and fourth quarters of 2011.
      </li>
      <li style="margin-bottom: 10.0px">
        Research, development and engineering (RD&amp;E) spending in the first
        quarter of 2012 increased 9% from the first quarter of 2011, and was
        essentially flat with the prior quarter. The increase year-on-year is
        due to the addition of engineering personnel intended to accelerate
        new product introductions.
      </li>
      <li style="margin-bottom: 10.0px">
        Selling, general and administrative (SG&amp;A) spending in the first
        quarter of 2012 increased 5% from the first quarter of 2011, and
        decreased 1% from the prior quarter. The increase year-on-year is due
        to sales force expansion and higher stock option expense.
      </li>
      <li style="margin-bottom: 10.0px">
        The tax rate was 21% in the first quarter of 2012, compared to 23% in
        the first quarter of 2011 and 12% in the prior quarter. The decrease
        year-on-year is primarily because a higher percentage of income was
        earned in lower tax jurisdictions. The increase from the prior quarter
        is primarily because the fourth quarter included a benefit of
        $1,750,000 from tax adjustments. A reconciliation of the tax rate from
        GAAP to non-GAAP is shown in Exhibit 2.
      </li>
    </ul>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Balance Sheet Highlights &#8211; April 1, 2012</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Cognex&#8217;s financial position as of April 1, 2012, was very strong, with
        no debt and $384,733,000 in cash and investments. Cognex paid out
        $4,271,000 in dividends to shareholders in the first quarter of 2012.
      </li>
    </ul>
    <p>
      <b>Financial Outlook</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Cognex expects revenue for Q2-12 to be between $82 million and $85
        million. Continued year-on-year growth in revenue from the factory
        automation and surface inspection markets is expected to be offset by
        significantly lower revenue from the semiconductor, electronics and
        solar industries due to a market downturn that began in mid-2011.
        Gross margin is expected to be at approximately the same level as
        reported for Q1-12. Operating expenses are expected to increase by up
        to 3% on a sequential basis. And the effective tax rate is expected to
        be 21%.
      </li>
    </ul>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Non-GAAP Financial Measures</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Exhibit 2 of this press release includes a reconciliation of certain
        financial measures from GAAP to non-GAAP. Cognex believes that these
        non-GAAP financial measures are useful because they allow investors to
        more accurately assess and compare the company&#8217;s results over multiple
        periods, and to evaluate the effectiveness of the methodology used by
        management to review its operating results. In particular, the GAAP
        presentation of cost of revenue, RD&amp;E and SG&amp;A expenditures includes
        stock option expense. Cognex excludes these expenses for the purpose
        of calculating non-GAAP adjusted operating income, non-GAAP adjusted
        net income and non-GAAP adjusted net income per share when it
        evaluates its continuing operational performance, and in connection
        with its budgeting process and the allocation of resources, because
        these expenses have no current effect on cash or the future uses of
        cash, and they fluctuate as a result of changes in Cognex&#8217;s stock
        price. Cognex also excludes certain items if they are one-time
        discrete events, such as tax adjustments. Cognex does not intend for
        these non-GAAP financial measures to be considered in isolation, nor
        as a substitute for financial information provided in accordance with
        GAAP.
      </li>
      <li style="margin-bottom: 10.0px">
        The tax effect of items identified in the reconciliation is estimated
        by applying the effective tax rate to the pre-tax amount, unless the
        nature of the item and/or the tax jurisdiction in which the item has
        been recorded requires application of a specific tax rate or tax
        treatment. In that case, the tax effect of such items is estimated by
        applying such specific tax rate or tax treatment.
      </li>
    </ul>
    <p>
      <b>Analyst Conference Call and Simultaneous Webcast</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Cognex will host a conference call today at 5:00 p.m. eastern time.
        The telephone number is (866) 244-4635 (or (703) 639-1178 if outside
        the United States). A replay will begin at 8:00 p.m. eastern time
        today and will run continuously until 11:59 p.m. eastern time on
        Thursday, May 3, 2012. The telephone number for the replay is (888)
        266-2081 (or (703) 925-2533 if outside the United States) and the
        access code is 1575370.
      </li>
      <li style="margin-bottom: 10.0px">
        Internet users can listen to a real-time audio broadcast of the
        conference call or an archived replay on the Cognex Investor Relations
        website at <u>http://www.cognex.com/Investor</u>.
      </li>
    </ul>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>About Cognex Corporation</b>
    </p>
    <p>
      Cognex Corporation designs, develops, manufactures and markets a range
      of products that incorporate sophisticated machine vision technology
      that gives them the ability to &#8220;see.&#8221; Cognex products include barcode
      readers, machine vision sensors and machine vision systems that are used
      in factories, warehouses and distribution centers around the world to
      guide, gauge, inspect, identify and assure the quality of items during
      the manufacturing and distribution process. Cognex is the world's leader
      in the machine vision industry, having shipped more than 750,000
      vision-based products, representing over $3 billion in cumulative
      revenue, since the company's founding in 1981. Headquartered in Natick,
      Massachusetts, USA, Cognex has regional offices and distributors located
      throughout North America, Japan, Europe, Asia and Latin America. For
      details visit Cognex online at <u>http://www.cognex.com</u>.
    </p>
    <p>
      <i>Certain statements made in this press release, which do not relate
      solely to historical matters, are forward-looking statements.</i> <i>These
      statements can be identified by use of the words &#8220;expects,&#8221;
      &#8220;anticipates,&#8221; &#8221;estimates,&#8221; &#8220;believes,&#8221; &#8220;projects,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221;
      &#8220;will,&#8221; &#8220;may,&#8221; &#8220;shall,&#8221; &#8220;could,&#8221; &#8220;should,&#8221; and similar words.</i>
      <i>These forward-looking statements, which include statements regarding
      business and market trends, future financial performance, customer order
      rates, expected areas of growth, research and development activities,
      and strategic plans, involve known and unknown risks and uncertainties
      that could cause actual results to differ materially from those
      projected.</i> <i>Such risks and uncertainties include: (1) current and
      future conditions in the global economy; (2) the cyclicality of the
      semiconductor and electronics industries; (3) the inability to penetrate
      new markets; (4) the inability to achieve significant international
      revenue; (5) fluctuations in foreign currency exchange rates; (6) the
      loss of a large customer; (7) the inability to attract and retain
      skilled employees; (8) the reliance upon key suppliers to manufacture
      and deliver critical components for Cognex products; (9) the failure to
      effectively manage product transitions or accurately forecast customer
      demand; (10) the inability to design and manufacture high-quality
      products; (11) the technological obsolescence of current products and
      the inability to develop new products; (12) the failure to properly
      manage the distribution of products and services; (13) the inability to
      protect Cognex proprietary technology and intellectual property; (14)
      involvement in time-consuming and costly litigation; (15) the impact of
      competitive pressures; (16) the challenges in integrating and achieving
      expected results from acquired businesses; (17) potential impairment
      charges with respect to Cognex&#8217;s investments or for acquired intangible
      assets or goodwill; (18) exposure to additional tax liabilities; (19)
      information security breaches or business systems disruptions; and (20)</i>
      <i>the other risks detailed in Cognex reports filed with the SEC,
      including its Form 10-K for the fiscal year ended December 31, 2011.</i> <i>You
      should not place undue reliance upon any such forward-looking
      statements, which speak only as of the date made. Cognex disclaims any
      obligation to update forward-looking statements after the date of such
      statements.</i>
    </p>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="13" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Exhibit 1</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>COGNEX CORPORATION</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>Statements of Operations</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>Dollars in thousands, except per share amounts</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="11" valign="top">
          <b>Three-months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          <b>Apr. 1,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          Dec. 31,
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          Apr. 3,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>2012</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          2011
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          2011
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Revenue
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>77,709</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          84,042
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          74,394
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Cost of revenue (1)
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>19,058</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          21,204
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          18,383
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Gross margin
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>58,651</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          62,838
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          56,011
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          <i>Percentage of revenue</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i><b>75</b></i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>75</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>75</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Research, development, and engineering expenses (1)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>10,361</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          10,350
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          9,482
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          <i>Percentage of revenue</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i><b>13</b></i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>12</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>13</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Selling, general, and administrative expenses (1)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>30,549</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          30,932
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          29,161
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          <i>Percentage of revenue</i>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i><b>39</b></i>
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>37</i>
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>39</i>
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>17,741</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          21,556
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          17,368
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          <i>Percentage of revenue</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i><b>23</b></i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>26</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>23</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Foreign currency loss
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>(638</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          (424
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          (59
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Investment and other income
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>975</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          556
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          400
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income before income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>18,078</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          21,688
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          17,709
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Income tax expense
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>3,796</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          2,589
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          4,073
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Net income
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>14,282</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          19,099
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          13,636
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 20.0px; text-align: left" valign="top">
          <i>Percentage of revenue</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i><b>18</b></i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>23</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>18</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Earnings per weighted-average common and common-equivalent share:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>0.34</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.45
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.33
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>0.33</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.44
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.32
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Weighted-average common and common-equivalent shares outstanding:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Basic
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>42,570</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          42,144
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          41,336
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Diluted
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>43,590</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          42,982
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          42,286
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Cash dividends per common share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>0.10</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.10
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.08
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Cash and investments per common share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>8.98</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          8.47
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          7.62
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Book value per common share
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>13.75</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          13.10
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          12.18
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (1) Amounts include stock option expense, as follows:
          </p>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 70.0px; text-align: left" valign="top">
          Cost of revenue
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>308</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          142
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          235
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 70.0px; text-align: left" valign="top">
          Research, development, and engineering
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>867</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          536
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          809
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 70.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Selling, general, and administrative
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>2,139</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          1,561
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          1,308
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 70.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Total stock option expense
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>3,314</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          2,239
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          2,352
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="13" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Exhibit 2</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>COGNEX CORPORATION</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>Reconciliation of Selected Items from GAAP to Non-GAAP</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>Dollars in thousands, except per share amounts</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="11" valign="top">
          <b>Three-months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          <b>Apr. 1,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          Dec. 31,
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          Apr. 3,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>2012</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          2011
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          2011
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Revenue (GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>77,709</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          84,042
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          74,394
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Operating income (GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>17,741</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          21,556
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          17,368
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Stock option expense
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>3,314</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          2,239
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          2,352
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Operating income excluding stock option expense (Non-GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>21,055</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          23,795
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          19,720
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 60.0px; text-align: left" valign="top">
          <i>Percentage of revenue (Non-GAAP)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i><b>27</b></i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>28</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>27</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Income before income tax expense (GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>18,078</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          21,688
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          17,709
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Income tax expense (GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>3,796</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          2,589
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          4,073
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 60.0px; text-align: left" valign="top">
          <i>Effective tax rate (GAAP)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i><b>21</b></i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>12</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>23</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          Tax adjustments:
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; text-align: left" valign="top">
          True up of annual tax rate
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          (1,963
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Discrete tax events
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          213
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>-</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          (1,750
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          -
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Income tax expense excluding tax adjustments (Non-GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>3,796</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          4,339
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          4,073
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 60.0px; text-align: left" valign="top">
          <i>Effective tax rate (Non-GAAP)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>21</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          20
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>23</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Net income excluding tax adjustments (Non-GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>14,282</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          17,349
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          13,636
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 60.0px; text-align: left" valign="top">
          <i>Percentage of revenue (Non-GAAP)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i><b>18</b></i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>21</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>18</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Net Income (GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>14,282</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          19,099
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          13,636
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Stock option expense, net of tax
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>2,227</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          1,525
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          1,561
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Net income excluding stock option expense (Non-GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>16,509</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          20,624
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          15,197
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 60.0px; text-align: left" valign="top">
          <i>Percentage of revenue (Non-GAAP)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i><b>21</b></i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>25</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <i>20</i>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Net income per diluted share (GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>0.33</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.44
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.32
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Stock option expense per diluted share, net of tax
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>0.05</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.04
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.04
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Net income per diluted share excluding stock option expense
          (Non-GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>0.38</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.48
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.36
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt" colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 5.0px; text-align: left" valign="top">
          Net income per diluted share (GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>0.33</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.44
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.32
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Tax adjustments per diluted share
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>-</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          (0.04
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          )
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          -
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 40.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Net income per diluted share excluding tax adjustments (Non-GAAP)
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>0.33</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.40
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          0.32
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="7" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Exhibit 3</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="7" valign="top">
          <b>COGNEX CORPORATION</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="7" valign="top">
          <b>Balance Sheets</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="7" valign="top">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="7" valign="top">
          <b>In thousands</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          <b>April 1,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="2" valign="top">
          December 31,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>2012</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          2011
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Assets</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Cash and investments
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>384,733</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          357,440
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Accounts receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>45,595</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          48,206
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>27,807</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          28,098
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Property, plant, and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>32,720</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          31,744
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Goodwill and intangible assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>100,054</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          100,939
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Other assets
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>47,072</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          45,454
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Total assets
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>637,981</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          611,881
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Liabilities and Shareholders' Equity</b>
        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Accounts payable and accrued liabilities
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>30,772</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          39,388
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>5,943</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          6,055
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          Deferred revenue and customer deposits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>12,473</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          13,458
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          Shareholders' equity
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>588,793</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          552,980
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="2">

        </td>
        <td>

        </td>
        <td colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          Total liabilities and shareholders' equity
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>637,981</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          611,881
        </td>
      </tr>
      <tr>
        <td colspan="7">
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; margin-left: 0pt; margin-right: 0pt; width: 100%; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="color: black; height: 1.5pt">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
<div style="text-align:left">
    <table style="margin-bottom: 10.0px; font-size: 8pt; font-family: Times New Roman; width: 100%" cellspacing="0">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" colspan="13" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <u><b>Exhibit 4</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>COGNEX CORPORATION</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>Additional Information Schedule</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>(Unaudited)</b>
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: center" colspan="13" valign="top">
          <b>Dollars in thousands</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="11" valign="top">
          <b>Three-months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          <b>Apr. 1,</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          Dec. 31,
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; text-align: center" colspan="3" valign="top">
          Apr. 3,
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          <b>2012</b>
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          2011
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: center" valign="bottom">
          2011
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          <b>Revenue</b>
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>$</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>77,709</b>
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          84,042
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          $
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          74,394
        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Revenue by division:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <i>Modular Vision Systems Division</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>85</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          81
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          87
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          <i>Surface Inspection Systems Division</i>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>15</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          19
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          13
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          <i>Total</i>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>100</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Revenue by geography:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <i>Americas</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>36</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          35
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          36
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <i>Europe</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>33</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          31
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          32
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <i>Asia</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>18</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          17
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          17
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          <i>Japan</i>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>13</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          17
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          15
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          <i>Total</i>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>100</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="padding-left: 0.0px; text-align: left" valign="top">
          <b>Revenue by market:</b>
        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <i>Factory automation</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>76</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          75
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          70
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; text-align: left" valign="top">
          <i>Web and surface inspection</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>15</b>
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          19
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          17
        </td>
        <td style="padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; padding-bottom: 2.0px; text-align: left" valign="top">
          <i>Semiconductor and electronics capital equipment</i>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>9</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          6
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          13
        </td>
        <td style="padding-left: 0.0px; border-bottom: solid black 1.0pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
      <tr>
        <td style="padding-left: 10.0px; padding-bottom: 4.0px; text-align: left" valign="top">
          <i>Total</i>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          <b>100</b>
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          <b>%</b>
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt">
          &#160;
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: right" valign="bottom">
          100
        </td>
        <td style="padding-left: 0.0px; border-bottom: double black 2.25pt; white-space: nowrap; padding-right: 0.0px; text-align: left" valign="bottom">
          %
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Cognex Corporation<br>Susan Conway, 508-650-3353<br>Director
      of Investor Relations<br><u>susan.conway@cognex.com</u>
    </p>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
