Exhibit 99.1

Cognex Reports Record Quarterly Revenue and Record Quarterly Net Income

NATICK, Mass.--(BUSINESS WIRE)--October 28, 2013--Cognex Corporation (NASDAQ: CGNX) today announced its financial results for the third quarter of 2013. Selected financial data for the quarter and nine months ended September 29, 2013 is compared to the second quarter of 2013, the third quarter of 2012 and the first nine months of 2012 in Table 1 below. A reconciliation of certain financial measures from GAAP to non-GAAP is shown in Exhibit 2 of this news release.

“What great results we reported tonight for the third quarter of 2013!” exclaimed Dr. Robert J. Shillman, Chairman of Cognex. “We set new quarterly records for both revenue and net income during what is typically a seasonally soft quarter for Cognex. Sales of our machine vision products were particularly strong in the factory automation market; in fact, we set a new quarterly revenue record in that market as well.”

“Cognex had an outstanding quarter in Q3 of 2013,” said Robert J. Willett, Chief Executive Officer of Cognex. “Revenue increased significantly both year-on-year and sequentially as a result of the continued strong execution of our growth plans. We are particularly pleased with the performance of our ID products business.”

Details of the Quarter

Statement of Operations Highlights – Third Quarter of 2013

• Revenue increased 13% from Q3 2012 and 5% from Q2 2013. Growth came from the factory automation market, where revenue increased 18% year-on-year and 7% sequentially to set a new quarterly record of $72 million. A notable contributor to factory automation revenue in Q3 2013 was volume orders for ID products received for logistics applications.
• Gross margin was 76% for Q3 2013, Q3 2012 and Q2 2013.
• Research, Development & Engineering (RD&E) spending increased 22% from Q3 2012 and 2% from Q2 2013. The increase year-on-year and sequentially was due to the company’s investment in new product development.
• Selling, General & Administrative (SG&A) spending increased 18% from Q3 2012 and 2% from Q2 2013. The increase year-on-year was due to Cognex’s sales force expansion and employee-related costs, commissions and professional fees. On a sequential basis, those higher costs were partially offset by the timing of marketing initiatives, lower stock option expense and savings from employee vacation time taken during Q3.
• The tax rate was 13% in Q3 2013 compared to 19% in both Q3 2012 and Q2 2013. Excluding discrete tax items, the tax rate for these periods was 19%, 21% and 19%, respectively (tax adjustments are summarized in Exhibit 2). The tax rate, excluding tax adjustments, decreased year-on-year due to a higher percentage of income being earned in lower-tax jurisdictions.

Balance Sheet Highlights – September 29, 2013

• Cognex’s financial position as of September 29, 2013, was very strong, with no debt and $444,000,000 in cash and investments. During Q3 2013, Cognex spent approximately $16,000,000 to repurchase 563,000 shares of its common stock on the open market at an average split-adjusted price of $28.72 per share. The company intends to continue to repurchase shares of its common stock in Q4 2013, subject to market conditions and other relevant factors.

Financial Outlook

• Cognex expects revenue for Q4 2013 to be between $93 million and $96 million. Gross margin is expected to continue in the mid-70% range. Operating expenses are expected to increase by up to 4% on a sequential basis. The effective tax rate is expected to be 19%.

Non-GAAP Financial Measures

• 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’s operating results. In particular, non-GAAP presentations exclude the following: (1) stock option expense for the purpose of calculating non-GAAP adjusted operating income, non-GAAP adjusted net income and non-GAAP adjusted net income per share (because these expenses have no current effect on cash or the future uses of cash, and they fluctuate as a result of changes in Cognex’s stock price), (2) the impact of currency exchange rate fluctuations from non-GAAP revenue (because period-to-period comparisons are better understood by assuming constant exchange rates), and (3) certain one-time discrete events, such as tax adjustments. Cognex does not intend for non-GAAP financial measures to be considered in isolation, nor as a substitute for financial information provided in accordance with GAAP.
• 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.

Analyst Conference Call and Simultaneous Webcast

• Cognex will host a conference call today at 5:00 p.m. eastern time. The telephone number is (866) 256-9239 (or (703) 639-1213 if outside the United States). A replay will begin at 8:00 p.m. eastern time today and will run continuously until 11:59 p.m. eastern time on Thursday, October 31, 2013. The telephone number for the replay is (888) 266-2081 (or (703) 925-2533 if outside the United States). The access code for both the live call and the replay is 1624698.
• Internet users can listen to a real-time audio broadcast of the conference call or an archived recording on the Cognex Investor Relations website: http://www.cognex.com/Investor.

About Cognex Corporation

Cognex Corporation designs, develops, manufactures and markets a range of products that incorporate sophisticated machine vision technology that gives them the ability to “see.” Cognex products include barcode readers, machine vision sensors and machine vision systems that are used in factories, warehouses and distribution centers around the world to guide, gauge, inspect, identify and assure the quality of items during the manufacturing and distribution process. Cognex is the world's leader in the machine vision industry, having shipped more than 900,000 vision-based products, representing over $3.5 billion in cumulative revenue, since the company's founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has regional offices and distributors located throughout North America, Japan, Europe, Asia and Latin America. For details visit Cognex online at http://www.cognex.com.

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 “expects,” “anticipates,” ”estimates,” “believes,” “projects,” “intends,” “plans,” “will,” “may,” “shall,” “could,” “should,” 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, expected areas of growth, future product mix, research and development activities, stock repurchases and strategic plans, involve known and unknown risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include: (1) current and future conditions in the global economy; (2) the cyclicality of the semiconductor and electronics industries; (3) the reliance on revenue from the automotive industry; (4) the inability to penetrate new markets; (5) the inability to achieve significant international revenue, including in Asia; (6) fluctuations in foreign currency exchange rates; (7) the loss of a large customer; (8) the inability to attract and retain skilled employees; (9) the reliance upon key suppliers to manufacture and deliver critical components for Cognex products; (10) the failure to effectively manage product transitions or accurately forecast customer demand; (11) the inability to design and manufacture high-quality products; (12) the technological obsolescence of current products and the inability to develop new products; (13) the failure to properly manage the distribution of products and services; (14) the inability to protect Cognex proprietary technology and intellectual property; (15) involvement in time-consuming and costly litigation; (16) the impact of competitive pressures; (17) the challenges in integrating and achieving expected results from acquired businesses; (18) potential impairment charges with respect to Cognex’s investments or for acquired intangible assets or goodwill; (19) exposure to additional tax liabilities; (20) information security breaches or business systems disruptions; and (21) the other risks detailed in Cognex reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2012. 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.

CONTACT:
Cognex Corporation
Susan Conway, 508-650-3353
Director of Investor Relations
susan.conway@cognex.com