The company announced solid financials in its June 30, 2005 fiscal year end, with demonstrated profitability over the last six quarters. During this past year, Adept also established a number of key, strategic partnerships that helped further expand the company's product portfolio.
"Robotics is about speed, agility, and precision -- and there is a new passion for these three values throughout our entire organization," said Robert Bucher, chairman and chief executive officer of Adept Technology Inc. "Our ability to rapidly deliver more sophisticated, more intelligent robots to our customers provides them with shorter time-to-benefit and gives Adept a critical competitive edge, especially in our target growth markets."
In a separate release today (see related release, "Adept Technology Unleashes Robots Featuring Greater Speed, Adaptability and Accuracy"), Adept announced its new product lineup, ranging from improved vision-guidance robots and high-performance motion controls, to a clean-room SCARA robot for disk drive manufacturing and a new line of 6-axis robots designed for assembly applications. The company has also announced its new Python(TM) Linear Modules and a web-based tool that allows customers to configure these modules to their own specifications. Through this 3D web-based design and planning tool, Adept will be able to begin configuring the customer product before the customer has finished the order process, significantly speeding delivery time.
ARC Research Director Sal Spada states, "In today's business climate, execution speed and product individualization is paramount. Consequently, it is machinery and production line configurations that provide the capability of handling a wide range of product variations that are now in high demand. In essence, robotic solutions are the most effective means to add agility and flexibility. Manufacturing operations benefit from rapid reconfiguration and a wider operating range. In particular, Adept is in a unique position of being capable of uniting vision and motion control technology in a manner that is transparent to the end user. The combination of these technologies is an enabler for manufacturers seeking solutions that fit the flexible and agile production system model."
"Our impressive business performance and the superior products we're delivering to the market are more proof that Adept is truly setting a new standard of excellence in the robotics industry," said Bucher. "Our customers and partners demand nothing less."
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 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.
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. Pamela Valentine, 925-245-3421 (Press, Industry Analysts) Email Contact Robert Strickland, 925-245-3400 (Financial Analysts) Email Contact or Eastwick Communications Brigit Valencia, 650-480-4019 Email Contact