Adept Expands Distribution in China
Adept Technology, Inc. Posted 07/16/2007
Agreement with Shenzhen-based Second2None Extends Robotics & Vision Expertise in China
LIVERMORE, California--(BUSINESS WIRE)--July 12, 2007--Adept Technology, Inc. (NASDAQ:ADEP), the leading provider of intelligent vision-guided robotics and global robotics services, announced that it has signed an agreement with Shenzhen-based automation company, Second2None Machine Vision Systems Co., Ltd., to distribute and integrate Adept robots & vision systems in China. The distribution agreement between the companies represents an expansion of an existing distribution relationship in which Second2None has been an distributor and solutions provider of Adept HexSight(R) vision technology in China and extends Adept's market presence into China's growing automation industry.
Under the terms of the agreement, Second2None will become a non-exclusive distributor and value-added integrator of Adept's complete product line of robots, controls, vision and software throughout China.
'China has the potential to become one of the largest markets for robotics and vision products,' said John Dulchinos, President and COO of Adept Technology. 'Second2None provides Adept with a solid foundation of automation experience combined with a deep understanding of the unique demographics of the local customers and market.'
About Second2None Machine Vision Systems Co., Ltd.
Second2None Machine Vision Systems is a leading provider of machine vision systems and technologies located in the Yingdali Science & Digital Building Free Trade Zone in Futian Shenzhen. Second2None provides turnkey machine vision systems, integration, and consulting services for industrial inspection, image analysis, and automation applications by working with OEMs and end-users on a diverse range of applications. More information is available at www.visiondragon.com.
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; as well as to traditional industrial markets including machine tool automation and automotive components. More information is available at www.adept.com.
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This press release may contain certain forward-looking statements including statements regarding growth, revenues, cash, margins, expenses and products 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: the company's limited cash resources; its customers' ability to pay invoices in a timely manner; 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; risks of acceptance of the company's new or current products in the marketplace; the financial and operating risks and regulatory requirements associated with the company's international operations; the cyclicality of capital spending of the company's customers 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 the seasonality of the company's products; the risks associated with product defects; the 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; or risks associated with variations in our gross margins based on factors which are not always in our control.
For a discussion of risk factors relating to Adept's business, see Adept's annual report on Form 10-K for the fiscal year ended June 30, 2006 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, including the discussion in Management's Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors contained therein.
Adept Technology, Inc.
Lauren Bucher, 925.245.3533 (Marketing)
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