It’s
third quarter reporting time here in the US, which means I like to
see how the leading machine vision companies are faring. Sadly,
Cognex is the only publicly-quoted pure vision company: for the
others we have to extract what little is made known in their reports
and investor conferences.
Two
companies with a foot in the machine vision world reported recently:
Teledyne and FLIR Systems.
On
Teledyne Dalsa…
Using
the “Seeking
Alpha”
financial blog, I learnt
that Teledyne are pleased with how “Sales of sensors and cameras
for machine vision and medical application increased nicely compared
to last year as did sales of infrared sensors and cameras for
commercial and scientific applications.”
Answering
questions from the investor community, Chair, President and CEO
Robert Mehrabian also said, “We think Digital Imaging will grow
maybe 3% to 5% in Q4 versus the prior year and Q3. Most of that
should come in our DALSA visible camera businesses. We have -- we're
doing reasonably well in flat-panel display inspections. As you may
know, we make somewhere between 60,000 and 70,000 cameras in DALSA
annually, and that business has picked up, especially in Asia
Pacific.”
So
that sounds pretty positive.
FLIR
Systems
This
is the other company I’ve started watching. Though not strictly in
the machine vision world, they do make and sell sophisticated imaging
equipment that gets used in industrial inspection applications.
They’re
pretty down about reduced government spending, but CEO Andy Teich did
say, “The Commercial Systems division increased revenue 17% versus
the third quarter of 2012, with all 3 geographic regions posting
positive growth for the first time in 2 years.”
Commercial
Systems Division President Tom Surran added, “The thermography line
of business grew revenue for the first time since Q1 2012 with all 3
geographic regions posting positive growth.” He went on to comment,
“Excluding orders received from government-funded OEM customers,
Commercial Systems bookings increased 8% organically year-over-year.”
Looking
to the fourth quarter, Tom also said regarding their thermography
business, “We will have a strong fourth quarter relative to the
quarters so far this year.”
So what’s Brian’s take on all this? Basically, the machine vision business is healthy and growing at a steady click. It’s a good time to be in machine vision.
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