"Barry brings tremendous knowledge and energy to Adept during an exciting and important growth period for the company," said Robert Bucher, chairman and chief executive officer, Adept Technology, Inc. "With his extensive industry experience and proven success, he will strengthen and grow the company's global sales team to better serve our markets, grow our revenues, and increase our bottom line."
Prior to joining Adept, Dale was vice president of global sales at Centigram Communications/ADC where his responsibilities included the development and growth of the global sales team and mentoring of sales personnel. Before Centigram, Dale served as vice president of global sales and service at Measurex Corporation/Honeywell, an optimization, automation and solution systems provider to the process industries. He was a key member of the Measurex management team that grew the company's annual revenues from $50 million to $650 million.
"With new technologies and greater cost efficiencies fueling unprecedented demand for innovative robotics solutions, this is an extremely exciting time for Adept," said Dale. "We plan to capitalize on the significant market opportunity by expanding our leadership in delivering customized solutions and by identifying new markets for our products."
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, 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 revenue 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 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 March 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.
Adept Technology, Inc. Robert Strickland, 925-245-3400 (Financial Analysts) Email Contact Pamela Valentine, 925-245-3421 (Press and Industry Analysts) Email Contact or Eastwick Communications Brigit Valencia, 650-480-4019 (Press and Industry Analysts) Email Contact