Combining Adept's high-performance SmartControl(TM) Software and DENSO's latest line of high-speed 6-axis robots, Adept will deliver a superior 6-axis robotic system for precision assembly applications in high-growth industries, including consumer electronics and life sciences. This new line of robotics solutions will enable users to more quickly and efficiently manufacture and package large volumes of products, significantly improving product time to market while reducing costs and measurably increasing time to value.
"We value our relationship with Adept and are looking forward to a long-term association," said Neal Ozeki, DENSO WAVE vice president. "Adept's advanced motion control capabilities, paired with our line of 6-axis robots, provide customers with extraordinary speed and precision. We believe this enables Adept to address new and existing customer markets with solid robotics solutions."
"Our strong relationship with DENSO provides excellent strategic opportunities for both companies," said Rob Bucher, chairman and chief executive officer of Adept Technology, Inc. "We are happy to offer customers the ability to leverage new, powerful solutions that take advantage of the unique robotics capabilities that both companies make available."
About DENSO and DENSO WAVE
DENSO Corporation, headquartered in Kariya, Aichi prefecture, Japan, is a leading global supplier of advanced technology, systems and components. Its customers include all the world's major carmakers. Worldwide, the company employs 104,000 people in 31 countries and regions, including Japan. Consolidated global sales for the fiscal year ended March 31, 2005 totaled US$26.2 billion. DENSO common stock is traded on the Tokyo, Osaka and Nagoya stock exchanges. For more information, go to www.globaldenso.com. In the Americas, DENSO employs more than 15,000 people at 33 companies with consolidated sales for the above fiscal year totaling US$5.4 billion.
DENSO WAVE Inc., headquartered in Kariya, Aichi prefecture, Japan, a group company of DENSO Corporation, develops and manufactures industrial components including robots. DENSO WAVE and DENSO have designed and manufactured over 15,000 robots for DENSO facilities, and more than 35,000 robots for other companies worldwide. In the United States, DENSO WAVE and DENSO's sales company DENSO Sales California, offer a complete line of robots, controllers and software covering a wide range of applications. For more information, visit www.densorobotics.com.
About Adept Technology
Adept Technology, Inc. designs, manufactures and markets robotic systems, motion control and machine vision technology for global markets including automotive, consumer electronics, consumer goods, disk drive, food, industrial tooling, medical devices, and pharmaceutical. Adept robots, controllers, and software are used for small parts assembly, material handling and packaging. Adept intelligent automation product lines include industrial robots, configurable linear modules, machine controllers for robot mechanisms and other flexible automation equipment, machine vision, and systems and applications software. Founded in 1983, Adept Technology is the largest U.S.-based manufacturer of industrial robots. More information is available at www.adept.com.
This press release contains certain forward-looking statements including statements regarding the disc drive market and future results that involve a number of risks and uncertainties. The company's actual results could differ materially from those expressed in any of the above forward-looking statements for a variety of reasons, including but not limited to, its customers ability to pay invoices in a timely manner and lack of unexpected cash obligations, the risk that some of its customers may become insolvent, future economic, competitive and market conditions including those in Europe and Asia and those related to the company's strategic markets; the company's continuing operating losses causing the company to need to raise additional financing in the future and the effect of the financing on current stockholders; the cyclicality of capital spending of the company's customers, including in the disc drive market, and in the semiconductor industry and lack of long-term customer contracts; the company's dependence on the continued growth of the intelligent automation market; the company's highly competitive industry; rapid technological change within the intelligent automation industry; the lengthy sales cycles for the company's products; the company's significant fixed costs which are not easily reduced; the risks associated with sole or single sources of supply and lengthy procurement lead times; the risks associated with acquisitions, including integration risks associated with our previous acquisitions; the risks associated with product defects; the potential delays associated with the development and introduction of new products or software releases; or decreased acceptance of the company's new or current products in the marketplace.
For a discussion of additional risk factors relating to Adept's business, see Adept's annual report on Form 10-K for the fiscal year ended June 30, 2004 and quarterly report on Form 10-Q for the quarters ended October 2, 2004, January 1, 2005 and April 2, 2005, including the discussion in Management's Discussion and Analysis of Financial Condition and Results of Operations contained therein.
The Adept logo is a registered trademark of Adept Technology, Inc. Adept is a trademark of Adept Technology. All other trademarks are owned by their respective companies.
Contact:
Adept Technology, Inc. Financial Analysts: Robert Strickland, 925-245-3400 (Chief Financial Officer) Email Contact or Press and Industry Analysts: Eastwick Communications Brigit Valencia, 650-480-4019 Email Contact or DENSO Public Relations Dan Alf, 310-513-7353 DENSO Sales California Email Contact