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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 1 million vision-based products, representing over $4 billion in cumulative revenue, since the company’s founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has regional offices and distributors located throughout the Americas, Europe, and Asia.

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DVT Sets Record April and Year-to-Date Sales & Bookings

POSTED 06/18/2003

Duluth, GA, June 3, 2003 – DVT Corporation, the global leader in SmartImage Sensor technology, has recorded the highest April sales and bookings levels in the company’s history. These April results follow the company’s all-time sales and bookings records set in the first quarter of 2003, and surpass last year’s record 1st Quarter by 43%. Based on these year-to-date results, DVT is projecting a 50% growth in sales for calendar 2003 – far exceeding the projected growth rate of the machine vision industry.

Commenting on these extraordinary results from the company’s new corporate headquarters, DVT CEO and Chairman, Bob Steinke stated, “DVT has been blessed with a history of industry-leading products and a workforce that is dedicated to the unconditional support of our customers. The results have been nothing short of phenomenal. In fact, this new facility is three times the size of our last office and represents our fifth expansion in eight years.

“DVT is a privately-held company and the majority of our employees are sharing in our financial growth by participating in our stock option program.” Steinke continued. “The company is currently in its 12th consecutive year of revenue growth; has no short-term or long-term debt; and holds a ‘3A1’ rating from Dun & Bradstreet – the highest in our category.”

“I am pleased to announce”, Steinke commented, “that DVT has a Current Ratio of 5, which means that we are extremely liquid and financially strong. This high level of liquidity gives us the capability of doubling our business every year without seeking an outside infusion of cash.”

DVT CFO Emory Berry stated, “In a period of economic downturn, DVT has been able to consistently grow both its top and bottom lines, while at the same time internally funding an aggressive international expansion.” DVT’s organization now includes twenty (20) offices in ten (10) countries and a global distribution network of 130 Automation Solution Providers (ASPs). DVT has increased its workforce by 80% in the past two years, establishing offices in the UK, France, Germany, Sweden, Mexico, Japan, Korea, Singapore and China to better support our ASPs and our growing global customer base.

Concerning the overall strength of the company, DVT Director of Marketing, Bob Settle commented, “As impressive as the financial results have been, we measure ourselves on how well we serve our customers. For example, DVT has supplied over 300,000 copies of its Virtual Tour CD containing more than thirty (30) hours of interactive training, a full working version of FrameWork software, and a product Emulator. The emulator allows a customer (or a prospect) to take a digital image of the product they need to inspect and set up a complete application in the comfort of their office – without having to buy any hardware or stop their manufacturing process.”

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