Adept Technology Announces New Solar Product Line
Adept Technology, Inc. Posted 09/03/2008
Adept Solaris™ Solar Product Line to be Previewed at European Photovoltaic Solar Energy Conference in Valencia, Spain
Valencia, SPAIN – August 28, 2008, Adept Technology, Inc. (NASDAQ:ADEP), the leading provider of intelligent vision-guided robotics and global robotics services, today announced its new Adept Solaris™ solar product line which it will preview in its booth# 4/A 39 at the 23rd European Photovoltaic Solar Energy Conference and Exhibition in Valencia, Spain September 1st – 5th. Adept Solaris products integrate solar wafer cell handling and inspection capabilities within a common application platform for high performance, ease in application development and rapid deployment, all backed by Adept’s award-winning customer service and support.
"The Adept Solaris line is designed to meet the industry’s increasing need for improved manufacturing productivity,” said John Dulchinos, president and chief operating officer for Adept Technology, Inc. ”Integrating inspection with automated handling continues the trend towards lower cost solar cells by improving production efficiencies.”
The new Adept Solaris line is designed to aid in the cost reduction drive to meet grid parity. The line’s advanced vision sensing and inspection technology coupled with Adept’s high-speed and precise robot, controls and software products, will give manufacturers increased yields, higher plant throughput, better measurability in performance, quicker integration and minimal cell breakage, while reducing the cost per watt in solar energy equipment manufacturing.
The Adept Solaris line incorporates Adepts’ existing product set with advanced vision sensing and inspection technology from LMI Technologies, a leading vision sensor supplier based in British Columbia, Canada. The line includes the highly successful Adept Quattro™ s650 robot, easy-to-use AdeptSight™ 2.0 PC-based software and the compact Adept Cobra™ s600 SCARA robot. These core technologies have already been implemented and endorsed by industry-leading solar companies around the world. The demonstration cell also incorporates a high-resolution imaging sensor provided by LMI Technologies.
Adept Solaris™ products will be available for purchase in the beginning of 2009.
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.
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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