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Cognex Corporation Declares Cash Dividend for Q4 2004

Cognex Corporation

NATICK, Mass. -- Jan. 28, 2005 -- Cognex Corporation (NASDAQ: CGNX) announced today that the company's Board of Directors declared a quarterly cash dividend of $0.08 per share. This dividend is payable on February 25, 2005 to all shareholders of record at the close of business on February 11, 2005. This is Cognex's seventh consecutive quarterly cash dividend.

About Cognex Corporation
Cognex Corporation designs, develops, manufactures, and markets machine vision systems, or computers that can ‘‘see.’‘ Cognex is the world's leader in the machine vision industry, having shipped more than 225,000 vision systems, representing over $1.6 billion in cumulative revenue, since the company's founding in 1981. Cognex's Modular Vision Systems Division, headquartered in Natick, Massachusetts, specializes in machine vision systems that are used for automating the manufacture of a wide range of discrete items and for assuring their quality. Cognex's Surface Inspection Systems Division, headquartered in Alameda, California, specializes in machine vision systems that are used for inspecting the surfaces of products manufactured in a continuous fashion, such as metals, papers and plastics. In addition to its corporate headquarters in Natick, Massachusetts, Cognex also has regional offices located throughout North America, Japan, Europe, and Southeast Asia. Visit Cognex on-line at http://www.cognex.com.

Forward-Looking Statement
Certain statements made in this press release and its attachments, which do not relate solely to historical matters, are forward-looking statements. You can identify these forward-looking statements by use of the words ‘‘expects,’‘ ‘‘anticipates,’‘ ‘‘estimates,’‘ ‘‘believes,’‘ ‘‘projects,’‘ ‘‘intends,’‘ ‘‘plans,’‘ ‘‘will,’‘ ‘‘may,’‘ ‘‘shall’‘ and similar words. These forward-looking statements, which include statements regarding business trends and the company's financial outlook, involve risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include: (1) global economic conditions that impact the capital spending trends of manufacturers in a variety of industries; (2) the cyclicality of the semiconductor and electronics industries; (3) the inability to achieve significant international revenue; (4) fluctuations in foreign exchange rates; (5) the loss of, or significant curtailment of purchases by, any one or more principal customers; (6) the reliance upon certain sole source suppliers to manufacture and deliver critical components for the company's products; and (7) the other risks detailed in the company's reports filed with the SEC, including the company's Form 10-K for the fiscal year ended December 31, 2003. You should not place undue reliance upon any such forward-looking statements, which speak only as of the date made. The company disclaims any obligation to update forward-looking statements after the date of such statements.

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