<SEC-DOCUMENT>0001157523-19-000932.txt : 20190429
<SEC-HEADER>0001157523-19-000932.hdr.sgml : 20190429
<ACCEPTANCE-DATETIME>20190429164411
ACCESSION NUMBER:		0001157523-19-000932
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20190425
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20190429
DATE AS OF CHANGE:		20190429

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:		19776558

	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>a51976362.htm
<DESCRIPTION>COGNEX CORP. 8-K
<TEXT>
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      <br>
      <font style="font-size: 12pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>WASHINGTON,
      DC 20549</b></font><br><br><br><font style="font-size: 18pt; font-family: Times New Roman"><b>FORM
      8-K</b></font><br><br><font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><br><font style="font-size: 12pt; font-family: Times New Roman"><b>Pursuant
      to Section 13 OR 15(d) of The Securities Exchange Act of 1934</b></font>
    </p>
    <p style="text-align: left; margin-left: 30.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">Date of
      report (Date of earliest event reported): April 25, 2019</font><br><br>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td valign="top" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 14pt">Cognex Corporation</font>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Exact name of registrant as specified in charter)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="text-align:center">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; margin-left:auto;margin-right:auto; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Massachusetts
          </p>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; width: 34%; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            001-34218
          </p>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; width: 33%; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            04-2713778
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            of incorporation)
          </p>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 34%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Commission
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            File Number)
          </p>
        </td>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 33%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (IRS Employer
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            Identification No.)
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            One Vision Drive, Natick, Massachusetts
          </p>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; width: 50%; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            01760-2059
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: center; padding-left: 0.0px; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Address of principal executive offices)
          </p>
        </td>
        <td valign="top" style="text-align: center; padding-left: 0.0px; width: 50%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Zip Code)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: left; margin-left: 30.0px">
      Registrant's telephone number, including area code: &#160;&#160;&#160;<font style="font-size: 10pt; font-family: Times New Roman">(508)
      650-3000</font>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
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          <p style="margin-top: 0px; margin-bottom: 0px">
            N/A
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Former name or former address, if changed since last report.)
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 60.0px">
      <font style="font-size: 10pt; font-family: Times New Roman">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>(<i>see </i>General Instruction A.2.
      below):
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 30.0px">
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c)) </font>
    </p>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 60.0px">
      Indicate by check mark whether the registrant is an emerging growth
      company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405
      of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934
      (&#167;240.12b-2 of this chapter).
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 60%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; width: 30%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Emerging growth company
          </p>
        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px; width: 5%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
          </p>
        </td>
        <td style="width: 5%">

        </td>
      </tr>
    </table>
    </div>
    <p style="font-size: 10pt; font-family: Times New Roman; text-indent: 60.0px">
      If an emerging growth company, indicate by check mark if the registrant
      has elected not to use the extended transition period for complying with
      any new or revised financial accounting standards provided pursuant to
      Section 13(a) of the Exchange Act.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 60%">
          &#160;
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 30%">
          &#160;
        </td>
        <td valign="top" style="text-align: right; padding-left: 0.0px; width: 5%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
          </p>
        </td>
        <td style="width: 5%">

        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt; 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="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 2.02&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Results of Operations and Financial Condition</b>
    </p>
    <p style="text-align: justify">
      On April 29, 2019, Cognex Corporation (the &#8220;Company&#8221;) issued a news
      release to report its financial results for the quarter ended March 31,
      2019. The release is furnished as Exhibit 99.1 hereto. The information
      in Item 2.02 of 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 style="text-align: justify; white-space: nowrap">

    </p>
    <p style="text-align: justify">
      <b>Item 5.02 &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Departure of Directors or Certain Officers;
      Election of Directors; Appointment of Certain Officers;</b><br>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<b>Compensatory
      Arrangements of Certain Officers</b>
    </p>
    <p style="text-align: justify">
      On April 25, 2019, the Board of Directors of the Company designated
      Laura MacDonald, Vice President and Corporate Controller, as the
      Company&#8217;s principal financial officer and principal accounting officer
      on an interim basis, effective May 3, 2019.&#160;&#160;Ms. MacDonald will be
      assuming such roles from John J. Curran, Senior Vice President of
      Finance &amp; Administration and Chief Financial Officer of the Company.&#160;&#160;On
      April 4, 2019, the Company announced Mr. Curran&#8217;s resignation, effective
      May 3, 2019, and the search for a new Chief Financial Officer.&#160;&#160;In
      connection with assuming these roles, Ms. MacDonald will receive a stock
      option grant with respect to 10,000 shares of the Company&#8217;s common stock
      that will vest on the third anniversary of the date of grant if Ms.
      MacDonald remains employed by the Company through such anniversary
      date.&#160;&#160;Ms. MacDonald, age 50, has served as the Company&#8217;s Vice President
      and Corporate Controller since December 2007, and prior to that time, in
      various roles of increasing responsibility within the Finance Department
      after joining the Company in 1994.
    </p>
    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 8.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Other Events </b>
    </p>
    <p style="text-align: justify">
      On April 29, 2019, the Company announced that its Board of Directors
      declared a quarterly cash dividend of $0.05 per share. This dividend is
      payable on May 31, 2019 to all shareholders of record at the close of
      business on May 17, 2019.
    </p>
    <p>

    </p>
    <p style="white-space: nowrap">
      <b>Item 9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Financial Statements and Exhibits</b>
    </p>
    <p style="margin-right: 300.0px; white-space: nowrap">
      (d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits
    </p>
    <p style="margin-right: 300.0px; white-space: nowrap">
      <u>Exhibit No.</u>&#160;&#160;&#160;&#160;&#160;&#160;&#160;<u>Description</u>
    </p>
    <p style="white-space: nowrap">
      <a href="a51976362ex99_1.htm">99.1</a>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; &#160;<a href="a51976362ex99_1.htm">News
      release, dated April 29, 2019, by Cognex Corporation</a>
    </p>
    <p>

    </p>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt; 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="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>

    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman"><b>SIGNATURES</b></font>
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Times New Roman">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>
    <p>

    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 55%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            COGNEX CORPORATION
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 55%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 6%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Dated:
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 39%">
          April 29, 2019
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 55%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>By: /s/ John J. Curran</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 55%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            John J. Curran
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px; width: 55%">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Senior Vice President of Finance
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td style="width: 39%">

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

    </p>
  </body>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a51976362ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
<!--Copyright 2019 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
  </head>
  <body style="font-size: 8pt; font-family: Times New Roman">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>Cognex
      Reports Results for the First Quarter of 2019</b></font>
    </p>
    <p>
      NATICK, Mass.--(BUSINESS WIRE)--April 29, 2019--Cognex Corporation
      (NASDAQ: CGNX) today announced financial results for the first quarter
      of 2019. Table 1 below shows selected financial data for Q1-19 compared
      with Q1-18 and Q4-18.
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td colspan="13">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="13">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Table 1</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="13">
          <p style="margin-top: 0px; margin-bottom: 0px">
            (Dollars in thousands, except per share amounts)
          </p>
        </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>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Revenue</b></u>
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Net Income</b></u>
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Net Income</b><br><b>per Diluted</b><br><u><b>Share</b></u>
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>Non-GAAP </b><br><b>Net Income </b><br><b>per Diluted</b><br><u><b>Share*</b></u>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u><b>Quarterly Comparisons</b></u>
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px">
          <b>Current quarter: Q1-19</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $173,484
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $33,104
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $0.19
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $0.17
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px">
          Prior year&#8217;s quarter: Q1-18
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $169,567
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $37,217
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $0.21
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $0.18
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px">
          Change: Q1-18 to Q1-19
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          2%
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (11%)
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (10%)
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (6%)
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px">
          Prior quarter: Q4-18
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $193,286
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $45,418
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $0.26
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $0.26
        </td>
      </tr>
      <tr>
        <td valign="top" style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid; padding-left: 0.0px">
          Change: Q4-18 to Q1-19
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (10%)
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (27%)
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (27%)
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          (35%)
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      *Non-GAAP net income per diluted share excludes tax adjustments. A
      reconciliation from GAAP to Non-GAAP is shown in Exhibit 2 of this news
      release.
    </p>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt; 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="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>
      &#8220;Our Q1 results were in line with our guidance and we set a new
      first-quarter revenue record,&#8221; said Dr. Robert J. Shillman, Founder and
      Chairman of Cognex. &#8220;However, slower business conditions have dampened
      our expectations for growth in the near term. Nevertheless, our products
      are a key element of factory automation and logistics, which we believe
      are both growth markets, and we remain optimistic about Cognex&#8217;s future
      over the long term.&#8221;
    </p>
    <p>
      &#8220;We continue to be encouraged by the increasing adoption of Cognex
      products in newer markets including logistics, which is now a more
      meaningful part of our revenue,&#8221; said Robert J. Willett, Chief Executive
      Officer of Cognex. &#8220;Overall, however, we expect to see a slight decline
      in revenue for 2019, primarily as a result of significantly lower
      revenue from consumer electronics amid an industry slowdown.&#8221;
    </p>
    <p>
      &#8220;Our history shows that growth for Cognex is not linear; we&#8217;ve had ups
      and downs in the past driven by various external factors. This current
      slowdown will be temporary and does not change our positive view of the
      long-term potential for Cognex,&#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 2019</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Revenue increased 2% from Q1-18 and declined 10% from Q4-18. Growth
        year-on-year in logistics was partially offset by lower revenue from
        customers in Greater China and in the automotive industry in the
        Americas. It was also impacted by an unfavorable change in currency
        exchange rates. On a sequential basis, Cognex experienced a steeper
        than usual seasonal decline from Q4 to Q1 due to slowing business
        conditions.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross margin was 73% for Q1-19 and Q4-18 compared with 76% for Q1-18.
        Gross margin decreased year-on-year primarily due to unfavorable
        absorption of manufacturing overhead costs.
      </li>
      <li style="margin-bottom: 10.0px">
        Research, Development &amp; Engineering (RD&amp;E) expenses decreased 3% from
        Q1-18 and increased 5% from Q4-18. RD&amp;E decreased year-on-year due to
        the favorable impact of currency exchange rates and lower costs for
        prototyping materials and outsourced engineering services. The
        decrease was partially offset by Cognex&#8217;s investment in additional
        engineers. RD&amp;E increased on a sequential basis due to the timing of
        application engineering for large opportunities in consumer
        electronics and higher employee-related costs.
      </li>
      <li style="margin-bottom: 10.0px">
        Selling, General &amp; Administrative (SG&amp;A) expenses increased 5% from
        Q1-18 and 1% from Q4-18. SG&amp;A increased both year-on-year and
        sequentially as a result of Cognex growing its sales and support
        organization. The increase year-on-year was partially offset by costs
        incurred in Q1-18 related to the company&#8217;s new ERP system and the
        favorable impact of changes in currency exchange rates.
      </li>
      <li style="margin-bottom: 10.0px">
        Investment and other income was $6 million in Q1-19, $4 million in
        Q1-18 and $4 million in Q4-18. Investment income increased both
        year-on-year and sequentially primarily due to higher yields on
        invested balances. Also contributing was a benefit from the
        revaluation of contingent consideration liabilities related to recent
        acquisitions.
      </li>
      <li style="margin-bottom: 10.0px">
        The effective tax rate was 7% in Q1-19, 2% in Q1-18 and 7% in Q4-18.
        Excluding discrete tax adjustments, the rates were 15%, 15% and 8%,
        respectively (tax adjustments are summarized in Exhibit 2). Notably,
        all periods presented include a varying discrete tax benefit related
        to employee stock options exercised during that quarter. Additionally,
        the tax rate for 2018 was adjusted in Q4-18 to reflect the fact that
        more of the company&#8217;s 2018 profits were earned and taxed in lower-tax
        jurisdictions than anticipated.
      </li>
    </ul>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt; 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="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>
      <b>Balance Sheet Highlights &#8211; March 31, 2019</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Cognex&#8217;s financial position as of March 31, 2019, continued to be very
        strong, with $864 million in cash and investments and no debt. Cash
        and investments increased by $66 million from the end of 2018. Cash
        inflows consisted of $61 million in cash generated from operations and
        $14 million in cash received from the exercise of employee stock
        options. Cash outflows included $9 million in dividends paid to
        shareholders and $5 million for capital expenditures. Cognex intends
        to repurchase shares of its common stock in Q2-19, subject to market
        conditions and other relevant factors.
      </li>
      <li style="margin-bottom: 10.0px">
        Inventories decreased by $4 million, or 5%, from the end of 2018.
      </li>
      <li style="margin-bottom: 10.0px">
        On January 1, 2019, Cognex adopted a new lease accounting standard
        (ASC 842, &#8220;Leases&#8221;) on a prospective basis and recorded lease assets
        and lease liabilities of $17 million as the cumulative-effect
        adjustment to the opening balance sheet.
      </li>
    </ul>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt; 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="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>
      <b>Financial Outlook &#8211; Q2 2019</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Revenue for Q2-19 is expected to be between $190 million and $200
        million. While the midpoint of this range represents growth of 12%
        over Q1-19, it&#8217;s a decline of 8% from Q2-18 primarily due to lower
        anticipated revenue from consumer electronics.
      </li>
      <li style="margin-bottom: 10.0px">
        Gross margin is expected to be in the mid-70% range, in line with the
        73% gross margin the company reported for Q1-19.
      </li>
      <li style="margin-bottom: 10.0px">
        Cognex expects operating expenses to increase by low-single digits on
        a sequential basis.
      </li>
      <li style="margin-bottom: 10.0px">
        The effective tax rate is expected to be 15% before discrete tax items.
      </li>
    </ul>
    <p>
      <b>Non-GAAP Financial Measures</b>
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        Exhibit 2 of this news release includes a reconciliation of certain
        financial measures from GAAP to non-GAAP. Cognex believes these
        non-GAAP financial measures are helpful because they allow investors
        to more accurately compare Cognex results over multiple periods using
        the same methodology that management employs in its budgeting process
        and in its review of Cognex&#8217;s operating results. Non-GAAP
        presentations exclude the following: (1) stock option expense for
        calculating non-GAAP adjusted operating income and net income from
        continuing operations (because these expenses have no current effect
        on cash or the future uses of cash, and they fluctuate because of
        changes in Cognex&#8217;s stock price), and (2) certain one-time discrete
        events, such as tax adjustments (because these costs are outside of
        Cognex&#8217;s normal business operations). Cognex does not intend for
        non-GAAP financial measures to be considered in isolation, or 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. However, if
        a specific tax rate or tax treatment is required because of the nature
        of the item and/or the tax jurisdiction where the item was recorded,
        the tax effect is estimated by applying the relevant specific tax rate
        or tax treatment, rather than the effective tax rate.
      </li>
    </ul>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt; 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="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <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 Daylight
        Time (EDT). The telephone number is (877) 704-4573 (or (201) 389-0911
        if outside the United States). A replay will begin at 8:00 p.m. EDT
        today and will be available until 11:59 p.m. EDT on Thursday, May 2,
        2019. The telephone number for the replay is (877) 660-6853 (or (201)
        612-7415 if outside the United States). The access code for both the
        live call and the replay is 13689534.
      </li>
      <li style="margin-bottom: 10.0px">
        Internet users can listen to a real-time audio broadcast of the
        conference call or an archived recording on the Cognex Investor
        Relations website: <u>http://www.cognex.com/Investor</u>.
      </li>
    </ul>
    <p>
      <b>About Cognex Corporation</b>
    </p>
    <p>
      Cognex Corporation designs, develops, manufactures and markets a wide
      range of image-based products, all of which use artificial intelligence
      (AI) techniques that give them the human-like ability to make decisions
      on what they see. Cognex products include machine vision systems,
      machine vision sensors and barcode readers that are used in factories
      and distribution centers around the world where they eliminate
      production and shipping errors.
    </p>
    <p>
      Cognex is the world's leader in the machine vision industry, having
      shipped more than 2 million image-based products, representing over $6
      billion in cumulative revenue, since the company's founding in 1981.
      Headquartered in Natick, Massachusetts, USA, Cognex has offices and
      distributors located throughout the Americas, Europe and Asia. For
      details visit Cognex online at&#160;<u>www.cognex.com</u>.
    </p>
    <p>
      <i>Certain statements made in this news release, which do not relate
      solely to historical matters, are forward-looking statements. These
      statements can be identified by use of the words &#8220;expects,&#8221;
      &#8220;anticipates,&#8221; &#8220;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 and other
      statements of a similar sense. These forward-looking statements, which
      include statements regarding business and market trends, future
      financial performance, customer order rates and the timing of related
      revenue, expected areas of growth, emerging and growth markets, future
      product mix, research and development activities, investments, strategic
      plans, and stock repurchases, involve known and unknown risks and
      uncertainties that could cause actual results to differ materially from
      those projected. Such risks and uncertainties include: (1) the loss of a
      large customer; (2) current and future conditions in the global economy,
      including the imposition of tariffs or export controls; (3) the reliance
      on revenue from the consumer electronics or automotive industries; (4)
      the inability to penetrate new markets; (5) the inability to achieve
      significant international revenue; (6) fluctuations in foreign currency
      exchange rates and the use of derivative instruments; (7) information
      security breaches or business system disruptions; (8) the inability to
      attract and retain skilled employees; (9) the failure to effectively
      manage our growth; (10) the reliance upon key suppliers to manufacture
      and deliver critical components for our products; (11) the failure to
      effectively manage product transitions or accurately forecast customer
      demand; (12) the inability to design and manufacture high-quality
      products; (13) the technological obsolescence of current products and
      the inability to develop new products; (14) the failure to properly
      manage the distribution of products and services; (15) the inability to
      protect our proprietary technology and intellectual property; (16) our
      involvement in time-consuming and costly litigation; (17) the impact of
      competitive pressures; (18) the impact of competitive pressures; (19)
      the challenges in integrating and achieving expected results from
      acquired businesses; (20) potential impairment charges with respect to
      our investments or for acquired intangible assets or goodwill; (21)
      exposure to additional tax liabilities; and (22) the other risks
      detailed in Cognex reports filed with the SEC, including its Form 10-K
      for the fiscal year ended December 31, 2018. 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-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt; 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="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>
      <u><b>Exhibit 1</b></u>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td colspan="5">

        </td>
        <td colspan="11">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="16">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>COGNEX CORPORATION</b><br><b>Statements of Operations</b><br><b>(Unaudited)</b><br><b>Dollars
            in thousands, except per share amounts</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

        </td>
        <td colspan="11">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="13">
          <b>Three-months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>March 31,</b><br><b>2019</b>
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            December 31,<br>2018
          </p>
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            April 1,<br>2018
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>173,484</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          193,286
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          169,567
        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>46,284</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          52,825
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          40,198
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Gross margin
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>127,200</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          140,461
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          129,369
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 25.0px">
          <i>Percentage of revenue</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i><b>73</b></i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>73</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>76</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Research, development, and engineering expenses (1)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>30,242</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          28,781
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          31,076
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 25.0px">
          <i>Percentage of revenue</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i><b>17</b></i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>15</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>18</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Selling, general, and administrative expenses (1)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>66,811</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          66,433
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          63,697
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 25.0px; padding-bottom: 2.0px">
          <i>Percentage of revenue</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i><b>39</b></i>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>34</i>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>38</i>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Operating income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>30,147</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          45,247
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          34,596
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 25.0px">
          <i>Percentage of revenue</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i><b>17</b></i>
          </p>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i><b>%</b></i>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>23</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>20</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Foreign currency gain (loss)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>(248</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (356
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (134
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Investment and other income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>5,832</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          3,858
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          3,517
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Income before income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>35,731</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          48,749
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          37,979
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Income tax expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>2,627</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          3,331
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          762
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Net income
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>33,104</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          45,418
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          37,217
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 25.0px">
          <i>Percentage of revenue</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i><b>19</b></i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>23</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>22</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 25.0px; padding-bottom: 4.0px">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>0.19</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.26
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.21
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 25.0px; padding-bottom: 4.0px">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>0.19</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.26
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.21
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 25.0px; padding-bottom: 4.0px">
          Basic
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>171,098</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          171,501
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          173,280
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 25.0px; padding-bottom: 4.0px">
          Diluted
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>175,607</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          175,527
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          179,641
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>0.050</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.050
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.045
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Cash and investments per common share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>5.03</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          4.67
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          4.65
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Book value per common share
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>6.93</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          6.65
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          6.23
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          (1) Amounts include stock option expense, as follows:
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Cost of revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>451</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          797
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Research, development, and engineering
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>4,467</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          3,412
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          4,815
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 2.0px">
          Selling, general, and administrative
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>7,363</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          5,790
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          7,582
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Total stock option expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>12,281</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          9,751
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          13,194
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt; 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="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>
      <u><b>Exhibit 2</b></u>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td>

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

        </td>
        <td colspan="5">

        </td>
        <td colspan="5">

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="16">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>COGNEX CORPORATION</b><br><b>Reconciliation of Selected Items
            from GAAP to Non-GAAP</b><br><b>(Unaudited)</b><br><b>Dollars in
            thousands, except per share amounts</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td colspan="5">

        </td>
        <td colspan="5">

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="13">
          <b>Three-months Ended</b>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>March 31,</b><br><b>2019</b>
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            December 31,<br>2018
          </p>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="3">
          <p style="margin-top: 0px; margin-bottom: 0px">
            April 1,<br>2018
          </p>
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>Adjustment for stock option expense and tax benefit for stock
          option exercises</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="5">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Operating income (GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>30,147</b>
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          45,247
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          34,596
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px; padding-bottom: 2.0px">
          Stock option expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>12,281</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          9,751
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          13,194
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Operating income (Non-GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>42,428</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          54,998
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          47,790
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 20.0px">
          <i>Percentage of revenue (Non-GAAP)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i><b>24</b></i>
          </p>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i><b>%</b></i>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>28</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>28</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net income (GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>33,104</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          45,418
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          37,217
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px">
          Stock option expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>12,281</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          9,751
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          13,194
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px">
          Tax effect on stock option expense
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>(2,222</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (1,709
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (2,347
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px; padding-bottom: 2.0px">
          Discrete tax benefit related to employee stock option exercises
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>(2,730</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (88
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (4,935
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Net income (Non-GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>40,433</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          53,372
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          43,129
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 20.0px">
          <i>Percentage of revenue (Non-GAAP)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i><b>23</b></i>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>28</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>25</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net income per diluted weighted-average common and common-equivalent
          share (GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>0.19</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.26
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.21
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px; padding-bottom: 2.0px">
          Share impact of non-GAAP adjustments identified above
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>0.04</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          0.04
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          0.03
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Net income per diluted weighted-average common and common-equivalent
          share (Non-GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>0.23</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.30
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.24
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Diluted weighted-average common and common-equivalent shares
          outstanding (GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>175,607</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          175,527
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          179,641
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px">
          <b>Exclusion of tax adjustments</b>
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Income before income tax expense (GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>35,731</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          48,749
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          37,979
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Income tax expense (GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>2,627</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3,331
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          762
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 20.0px">
          <i>Effective tax rate (GAAP)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i><b>7</b></i>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i><b>%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>7</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>2</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Tax adjustments:
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px">
          Discrete tax benefit related to employee stock option exercises
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>(2,730</b>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (88
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (4,935
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px">
          Discrete tax benefit related to Tax Act
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>&#8212;</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (89
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          &#8212;
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px; padding-bottom: 2.0px">
          Other discrete tax events
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>(3</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (190
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px; padding-bottom: 4.0px">
          Income tax expense excluding tax adjustments (Non-GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>5,360</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          3,698
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          5,697
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 20.0px">
          <i>Effective tax rate (Non-GAAP)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i><b>15%</b></i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>8</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>15</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Net income excluding tax adjustments (Non-GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>30,371</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          45,051
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          32,282
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 20.0px">
          <i>Percentage of revenue (Non-GAAP)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i><b>18</b></i>
          </p>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <i><b>%</b></i>
          </p>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>23</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <i>19</i>
        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <i>%</i>
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Net income per diluted weighted-average common and common-equivalent
          share (GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>0.19</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.26
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.21
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 5.0px; padding-bottom: 2.0px">
          Share impact of non-GAAP adjustments identified above
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>(0.02</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>)</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          &#8212;
        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: right; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          (0.03
        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: left; border-bottom-style: solid; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          )
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Net income per diluted weighted-average common and common-equivalent
          share (Non-GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>0.17</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.26
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          0.18
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Diluted weighted-average common and common-equivalent shares
          outstanding (GAAP)
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>175,607</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          175,527
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          179,641
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-right: 0pt; margin-left: 0pt; width: 100%; margin-bottom: 10pt; 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="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>
      <u><b>Exhibit 3</b></u>
    </p>
<div style="text-align:left">
    <table cellspacing="0" style="font-size: 8pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px">
      <tr>
        <td colspan="10">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px" colspan="10">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>COGNEX CORPORATION</b><br><b>Balance Sheets</b><br><b>(Unaudited)</b><br><b>Dollars
            in thousands</b>
          </p>
        </td>
      </tr>
      <tr>
        <td>

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

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

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

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="3">
          <b>March 31, 2019</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 1.0pt; border-bottom-color: black; text-align: center; border-bottom-style: solid; padding-left: 0.0px" colspan="2">
          December 31, 2018
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          <b>Assets</b>
        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Cash and investments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>863,687</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          797,599
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Accounts receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>106,424</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          119,172
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Unbilled revenue
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>10,202</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          8,312
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Inventories
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>79,208</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          83,282
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Property, plant, and equipment
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>91,273</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          91,396
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Operating lease assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>17,354</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Goodwill and intangible assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>122,552</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          123,321
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>63,072</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          66,585
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Total assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>1,353,772</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1,289,667
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td>

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

        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Accounts payable and accrued expenses
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>69,477</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          76,450
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Operating lease liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>17,336</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          &#8212;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Deferred revenue and customer deposits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>16,625</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          9,845
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Income taxes
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>60,421</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          64,243
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Other liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>1,054</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          3,866
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px">
          Shareholders' equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          <b>1,188,859</b>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="text-align: right; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px" colspan="2">
          1,135,263
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

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

        </td>
        <td>

        </td>
        <td style="border-bottom-width: 1.0pt; border-bottom-color: black; border-bottom-style: solid" colspan="2">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; padding-left: 0.0px; padding-bottom: 4.0px">
          Total liabilities and shareholders' equity
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>$</b>
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          <b>1,353,772</b>
        </td>
        <td style="border-bottom-width: 2.25pt; border-bottom-color: black; border-bottom-style: double">
          &#160;
        </td>
        <td>

        </td>
        <td>

        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: left; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          $
        </td>
        <td valign="bottom" style="border-bottom-width: 2.25pt; border-bottom-color: black; text-align: right; border-bottom-style: double; padding-left: 0.0px; white-space: nowrap; padding-right: 0.0px">
          1,289,667
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>
      CONTACT:<br>Susan Conway<br>Senior Director of Investor Relations<br>Cognex
      Corporation<br>Phone: (508) 650-3353<br>Email: <u>susan.conway@cognex.com</u>
    </p>
  </body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
