Adept Technology Signs New Regional Sales Representative Agencies To Continue Channel Expansion in North America
Adept Technology, Inc. Posted 12/04/2007
AutoMotion Technologies and Innovative Automation Solutions to Expand Adept Reach in Southeast and Midwest Regions
LIVERMORE, Calif.- December, 3, 2007, Adept Technology, Inc. (NASDAQ:ADEP), the leading provider of intelligent vision-guided robotics and global robotics services, today announced it has signed two new regional sales representative agencies to continue its distribution channel expansion in North America. AutoMotion Technologies of Lake City, Florida will expand Adept’s reach in Florida and Puerto Rico while Innovative Automation Solutions (IAS), of Platte City, Missouri will cover the Missouri, Kansas and Nebraska region.
‘‘We believe that adding both AutoMotion and IAS to our standard sales channel will be a great asset as both have extensive knowledge of automation technologies and a successful track record in effectively selling automation products,’‘ said John Dulchinos, president and chief operating officer for Adept Technology, Inc. ‘‘Adding these highly trained agencies supports our corporate strategic growth plan by expanding coverage in these regions and will also allow us to augment our support to existing customers in these areas.’‘
‘‘Over our 20 years in the factory automation business, we've seen Adept produce products that perform and cultivate a loyalty among customers through their excellent service. That's exactly the type of companies we seek to represent so we’re delighted to now be allied with Adept,’‘ said Bill Becker, president of AutoMotion Technologies.
‘‘We’ve been using Adept products for over 15 years and have found them to be extremely reliable and innovative and Adept’s service exceptional, so we are excited to have the opportunity to offer Midwest customers their technology,’‘ said Jeff Youngs, president and chief technical consultant for Innovative Automation Solutions.
AutoMotion Technologies has been bringing solutions to manufacturers in the U.S. Southeast and the Caribbean since 1992; improving quality and production rates and reducing energy and labor costs for its customers. The company combines decades of experience, top-shelf lines, an extra-mile service attitude and a relentless pursuit of new opportunities in a changing manufacturing environment. For more information contact AutoMotion Technologies at 386-755-8899 or visit their website at www.auto-motion.com.
Innovative Automation Solutions (IAS) has over 30 years of automation and engineering experience in the automotive, manufacturing, food or medical packaging industries. Its associates provide consulting services for automation solutions, industrial engineering, environmental engineering and manufacturing engineering. Additionally, IAS offers environmental, health and safety support services (such as plans, permits or training) for customer’s automation projects, expansion or new facilities. For more information contact IAS at 816-719-3661 or visit their website at www.ias-automation.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.