Cognex Corporation

Greetings and welcome to Cognizant's first quarter 2019 earnings conference call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Cognizant CFO, John Curran. Thank you. You may begin.

Thank you, and good evening everyone. I'm John Curran, Cognex's CFO, and I'd like to welcome you to our first quarter earnings conference call for 2019. With me on today's call are Dr. Bob Shillman, Cognex's Chairman, and Rob Willett, Cognex's President and CEO. Please note that our earnings release and quarterly report on Form 10-2 are available on the Cognex website at www.cognex.com. Both contain highly detailed information about our financial results. During the call, we may use a non-GAAP financial measure if we believe it is useful to investors or if we believe it will help investors better understand our results or business trends. You can see a reconciliation of certain items from GAAP to non-GAAP in Exhibit 2 of the earnings release. Any forward-looking statements we made in the earnings release or any that we may make during this call are based upon information that we believe to be true as of today. Things often change, however, and actual results may differ materially from those projected or anticipated. You should refer to our SEC filings, including our most recent Form 10-K, for a detailed list of these risk factors. With that, I will now turn the call over to Dr. Bob.

Thank you, John, and welcome everyone. As shown in the news release issued earlier today, our Q1 results were in line with our expectations, with revenue near the top end of our guidance. And in fact, Cognex set a record for Q1 revenue. Well, that's the good news. The bad news is that year-on-year growth was lower than we would have liked, reflecting today's lower growth environment. Right now I'm in San Diego, and everyone else on the call is at our Natick headquarters. So for further details, I'm going to pass the call over to my partner, Cognex's President and CEO, Rob Willett. Rob, take it away.