Adept Technology Reports Q3 Fiscal 2008 Results

ADEPT TECHNOLOGY, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands)

(unaudited)

March 29,

2008

June 30,

2007

ASSETS
Current assets:
Cash and cash equivalents $ 12,261 $ 8,900
Short-term investments - 1,962

Accounts receivable, less allowance for doubtful accounts of $512 at March 29, 2008 and $506 at June 30, 2007

13,942 10,185
Inventories 10,049 9,806
Other current assets 739 598
Total current assets 36,991 31,451
Property and equipment, net 3,350 3,632
Goodwill 585 -
Other intangible assets, net 429 -
Other assets 142 152
Total assets $ 41,497 $ 35,235
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Accounts payable $ 6,065 $ 5,175
Accrued payroll and related expenses 1,740 1,708
Accrued warranty 1,212 1,207
Accrued restructuring charges 217 449
Other accrued liabilities 1,457 471
Total current liabilities 10,691 9,010
Long-term liabilities:
Accrued restructuring charges 470 637
Other long-term liabilities 353 184
Total liabilities 11,514 9,831
Total stockholders' equity 29,983 25,404

Total liabilities and stockholders' equity
$ 41,497 $ 35,235

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