Cognex Machine Vision Chosen by World’s Largest Steel Producer

NATICK, Mass.–(BUSINESS WIRE)–Aug. 5, 2002–Cognex Corporation (NASDAQ: CGNX – News), the world’s leading supplier of machine vision systems, announced today that Sidmar N.V., part of the Arcelor Group which is the world’s largest steel producer, has integrated the SmartView® Metals surface inspection system for use on a Continuous Annealing Processing Line (CAPL) at their manufacturing facility in Gent, Belgium.

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Cognex Corporation Announces Reduction in Workforce

NATICK, Mass.–(BUSINESS WIRE)–Aug. 1, 2002–Cognex Corporation (NASDAQ: CGNX – News) today announced that it will reduce its global work force by approximately 85 positions. The positions to be eliminated include approximately 75 employees and 10 open requisitions. The work force reduction is in response to the continuing severe slowdown in the semiconductor and electronics industries and is expected to reduce expenses by approximately $6,500,000 on an annualized basis. In the third quarter of 2002, the company intends to take a one-time charge of approximately $1,000,000, or $0.02 per share, for severance and related costs. As a result, Cognex now believes that it will report earnings per share in this third quarter in the range of ($0.02) to $0.00. Initial savings from the work force reduction will begin in the fourth quarter of 2002.

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