Adept Technology Receives $1.4 Million Order From International Equipment OEM
Adept Technology, Inc. Posted 02/14/2012Order for Intelligent Robotics Part of Major Capacity Expansion Program in Asia
Adept Technology, Inc. (Nasdaq:ADEP), a leading provider of intelligent robots and autonomous mobile solutions, today announced it has received a $1.4 million order for high-precision robots from a major international manufacturer of sophisticated automation equipment for use in the consumer electronics and information technology industries. The order is expected to be fulfilled and recognized as revenue over the next two quarters. The company selected Adept as its automation partner to provide advanced robotic systems to be integrated into their process equipment as part of a program by their end-user manufacturer for increasing production capacities.
"This order is a continued validation of our partnerships and business strategy in Asia," said Hai Chang, managing director of Asia operations for Adept Technology. "Adept continues to set the standard in the consumer electronics and information technology industry with our best-in-class high-precision mechanisms and controls technology."
The order for Adept Python™ linear modules will be used in high-throughput, high-precision material handling applications. Adept Python robots have proven over the years to deliver consistently reliable performance and yields for our end-user customers. Additionally, the Adept SmartController CX controller and distributed controls platform allow the customer to fully leverage and benefit from Adept's inherent multi-robot support capabilities, allowing up to 15 individually-configured robots to be commanded through one controller. Adept's Python linear modules were also selected for their industry-leading cleanliness in controlled environments, with available options that are capable of meeting Fed 209E class 1 cleanroom standards at high motion speeds.
About Adept Technology, Inc.
Adept is a global, leading provider of intelligent robots and autonomous mobile solutions and services that enable customers to achieve precision, speed, quality and productivity in their assembly, handling, packaging, testing, and logistical processes. With a comprehensive portfolio of high-performance motion controllers, application development software, vision-guidance technology and high-reliability robot mechanisms with autonomous capabilities, Adept provides specialized, cost-effective robotics systems and services to high-growth markets including Packaging, Medical, Disk Drive/Electronics, and Solar; as well as to traditional industrial markets including machine tool automation and automotive components.
This press release contains forward-looking statements including, without limitation, statements about our expectations for revenues and cash flow and opportunities in our core markets and potential new markets. Such statements are based on current expectations and projections about the Company's business. These statements are not guarantees of future performance and involve numerous risks and uncertainties that are difficult to predict. The Company's actual results could differ materially from those expressed in forward-looking statements for a variety of reasons. For a discussion of these 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, 2011, which includes the discussion in Management's Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors.