For the fourth quarter in a row, machine-vision company Cognex Corporation‘s (NASDAQ: CGNX) revenue growth exceeded management’s expectations. In a nutshell, Cognex is seeing stronger growth in consumer electronics than originally expected at the start of the year. It all adds up to a strong year for the company, during which management has managed to outperform a struggling industrial automation market while expanding the Total Addressable Market (TAM) of its machine-vision solutions. For a closer look, let’s take a closer look at the third-quarter results.