01.05.2008 12:30:00
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Adept Technology Records First Adept Quattro Robot Sales to Asia
Adept Technology, Inc. (NASDAQ:ADEP), the leading provider of
intelligent vision-guided robotics and global robotics services, today
announced it has received multiple orders for Adept Quattro™
s650 robots from customers in the Asia-pacific region. The sales mark a
key milestone in the company’s global
packaging initiative. The high speed robots were sold into packaging
applications in Japan and Korea and represent the company’s
first sales into the world’s largest and
fourth largest (respectively) robotics markets, according to market
statistics from the International Federation of Robotics.
"These Adept Quattro robot orders are a
significant achievement for Adept in Asia,”
said John Dulchinos, president of Adept Technology, Inc. "They
represent the expansion of our Quattro leading edge technology into the
world’s largest robotics markets and also
attest to the success of our global distribution strategy.”
The Adept Quattro robot was selected for these applications for its
sanitary design, large work envelope and its ability to delicately
handle the confection pieces at very high speeds. The applications will
also use Adept’s ultra-compact controls and
vision guidance technology.
The Adept Quattro robot orders from Japan came through Innovation
Matrix, Adept’s distributor for the region.
The orders from Korea came through Han Shin Power Tech Co., Ltd., Adept’s
recently added exclusive dealer for Korea and reflect the benefit of
Adept’s global distribution expansion
strategy over the past 2 years.
The Adept Quattro s650 robot, first introduced by Adept in 2007, offers
a unique four arm Parallel kinematic offers major advantages over the
traditional three arm Delta style kinematic. As is the case with most
other robots from Adept, the amplifiers are in the base of the robots.
Since the official launch of the Adept Quattro, over 200 systems have
been sold.
About Adept Technology, Inc.
Adept is a global, leading provider of intelligent robotics systems and
services that enable customers to achieve precision, speed, quality and
productivity in their assembly, handling, packaging, testing and other
automated processes. With a comprehensive portfolio of high-performance
motion controllers, application development software, vision-guidance
technology and high-reliability robot mechanisms, Adept provides
specialized, cost-effective robotics systems and services to high-growth
markets including Packaged Goods, Life Sciences, Disk Drive/Electronics
and Semiconductor/Solar; as well as to traditional industrial markets
including machine tool automation and automotive components. More
information is available at www.adept.com.
All trade names are either trademarks or registered trademarks of their
respective holders.
Forward-Looking Statements
This press release contains certain forward-looking statements including
statements regarding revenues, profitability, products, market
opportunities and Adept's growth and impact of its restructuring based
on its current products, strategy and market presence 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, factors affecting our operating results including factors
difficult to forecast; future economic, competitive and market
conditions including those in Europe and Asia and those related to the
Company's strategic markets; risks of acceptance of the Company's new or
current products in the marketplace; the actual results of our
restructuring activities, and potential impact of current restructuring
efforts; the financial and operating risks and regulatory requirements
associated with international operations, sales and foreign suppliers;
the cyclicality of capital spending of the Company's customers and lack
of long-term customer contracts; customers' ability to pay invoices in a
timely manner; the risk that some customers may become insolvent;
dependence on the continued growth of the intelligent automation market;
the highly competitive nature of and rapid technological change and
competition within the intelligent automation industry; the lengthy
sales cycles for the Company's products; the Company's limited cash
resources and significant fixed costs which are not easily reduced; the
Company's outsourced manufacturing dependence and risks associated with
sole or single sources of supply and lengthy procurement lead times;
risks associated with the seasonality of the Company's products; risks
associated with product defects; potential delays associated with the
development and introduction of new products or software releases; the
Company's ability to sell its products through systems integrators and
original equipment manufacturers who may also promote competing
products; risks associated with variations in our gross margins based on
factors not always in Adept's control; the need to hire and retain
qualified managerial personnel and to complete acquisitions to expand
operations; risks of unfair termination claims by employees; risks
associated with variations in gross margins; risks related to the
Company's potential inability to strengthen its internal controls over
financial reporting; potential securities class action litigation if
Adept's stock price remains volatile or operating results suffer; and
costs of being a public company as a result of legislation requiring
greater general and administrative costs to be incurred.
For a discussion of risk factors relating to Adept's business, see
Adept's SEC filings, including the Company's annual report on Form 10-K
for the fiscal year ended June 30, 2007, which include the discussion in
Management's Discussion and Analysis of Financial Condition and Results
of Operations and Risk Factors contained therein.
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