Adept Technology Reaches Production Milestone with 25,000th Robot Shipped
Adept Technology, Inc. Posted 01/29/2008
Adept Technology Reaches Production Milestone with 25,000th Robot Shipped (posted 01/29/2008)
Adept Quattro Robot Shipment to Preferred Packaging Partner Clear Automation Marks Company’s Achievement
‘‘This significant milestone is a testament not only to the hard work and dedication of our employees and customers but also to Adept’s technology leadership,’‘ said John Dulchinos, president and chief operating officer for Adept Technology, Inc. ‘‘We are very proud of this accomplishment and plan to continue our focus on delivering the quality our customers have come to expect.’‘
‘‘We are delighted to be a part of this notable achievement for Adept,’‘ said Ron McCleary, president of Clear Automation. ‘‘We have worked with Adept since we were founded in 1990 and have come to rely on their high performance products and exceptional service while developing our custom machinery solutions for our customers.’‘
The Adept Quattro robot is specifically designed for high-speed manufacturing, packaging, material handling and assembly. It is the only robot in the world that features a unique four-arm with rotational platform designed for maximum speed, maximum acceleration and exceptional performance across the entire work envelope. In addition, the powerful embedded amplifiers and compact controls make installation easy and enable saved workspace. The high speed and precision of the Quattro robot make it a perfect choice for flexible and productive ‘‘one at a time’‘ packaging, manufacturing, material handling, kitting and assembly applications.
Adept’s Preferred Packaging Partner (PPP) program combines Adept's advanced robot and integrated vision technology with the industry's most experienced packaging integration companies. PPP companies actively work with Adept to advance the capabilities and cost effectiveness of robotic packaging solutions in the food, pharmaceutical, cosmetics and consumer goods markets.
About Clear Automation
Clear Automation specializes in the design, engineering, fabrication and installation of integrated robotic and machine vision systems. The company manufactures a variety of custom automated assembly and packaging machinery for various industries including Personal care products, Medical Devices, Automotive, Electronics and Machine Components. Its custom machinery solves a number of common manufacturing problems ranging from dispensing, labeling, capping, material handling, assembly, to tray handling. More information can be found on the company’s website at www.clearautomation.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/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.
Press and Industry Analysts:
Lauren Bucher, 925-245-3400
Lisa Cummins, 925-245-3413
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