Adept Technology Ships Major Order From Packaging Automation Solution Partner in China
Adept Technology, Inc. Posted 08/17/201012 Quattro Order From Austong Intelligent Robot Technology Destined for Secondary Packaging Line
PLEASANTON, Calif. -- Adept Technology, Inc. (Nasdaq:ADEP), a leading provider of intelligent vision-guided robotics and global robotics services, today announced that Austong Intelligent Robot Technology of China placed an order for twelve Adept Quattro s650H robots to automate a secondary packaging operation for a leading dairy processor in China. The order was received and shipped in the fourth quarter of fiscal year 2010. As a member of the Adept Preferred Partner Program, Austong expands the benefits of this program channel to include manufacturers in China where it plans to work with Adept's Asian engineering team to deliver highly reliable and cost-effective robotic packaging solutions.
"Adept is proud to be a partner to Austong Robot in providing high-performance packaging solutions to China's dairy industry," said Hai Chang, managing director of Asia operations for Adept Technology, Inc. "With the recent labor unrest issues and changes in government labor policies, China's manufacturing base is increasingly turning to flexible automation which delivers significantly higher efficiencies when compared to traditional labor-intensive operations. With over 20 years of international experience in providing flexible, turnkey solutions, the management team of Austong Robot is well-positioned to serve China's growing demand for automated packaging solutions and is an excellent fit for Adept's Preferred Partner Program."
"Austong engineers have worked with Adept for years in our turnkey solutions business. We selected Adept's Quattro robots for a very demanding project with multiple high-throughput production lines because of the extremely fast speeds of the Adept Quattro robot and ease-of-deployment of their Adept ACE PackXpert software," said Dr. Zhengde Li, general manager of Austong Intelligent Robot Technology. "We're extremely confident that we can rapidly deploy our high-performance, flexible, low-cost solutions to China's packaging industry by partnering with Adept and utilizing their innovative products for high-speed intelligent handling."
China is rapidly adopting automation and control technologies to increase efficiencies and reduce production costs in support of the country's astonishing expansion typified by the 11.9% year over year growth in the economy for the first quarter of 2010. Chinese manufacturers of processing and packaging equipment have been quick to recognize the benefits of incorporating international brands of automation and control technology to their machines.
About Austong Intelligent Robot Technology Co., Ltd.
Austong Intelligent Robot Technology Co., Ltd. is the leading low-cost solutions provider in China for high-performance, flexible, innovative robotic and automated packaging solutions. Austong serves the consumer products, pharmaceuticals, food, dairy, and beverage industries with state-of-the-art automation technology, quality workmanship, and reliable service and support. Led by a management team with over 20 years of experience in helping Chinese and global manufacturers improve their production efficiency and consistency, Austong has the highest international engineering and design standards for quality, workmanship, and performance. Its corporate headquarters, including engineering and manufacturing, is centrally located in Kunshan City, Jiangsu Province, China. More information about Austong is available at http://www.austongrobot.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.
This press release contains forward-looking including, without limitation, statements about our expectations for recovery and increased activity in our markets and our ability to capitalize on increased market activity to increase orders, grow revenues and earnings, and statements about the timing of shipment and revenue recognition for orders we received at the end of the third quarter of fiscal 2010 and statements about our products. Such statements are based on current expectations, estimates and projections about the Company's business. These statements are not guarantees of future performance and involve numerous risks, uncertainties and assumptions 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, including but not limited to: factors affecting our fluctuating operating results including factors difficult to forecast or outside our control; the effect of the current economic downturn in manufacturing and other businesses of our customers and risks of nonpayment and customer insolvency; the timing and impact of the Company's restructuring activities and subsequent decisions to restore employee salaries, increase sales and marketing program spending, and other expense-related matters; the Company's inability to react quickly or adequately to changes in demand for our products; risks of acceptance of the Company's new or current products in the marketplace; future economic, competitive and market conditions including those in Europe and Asia and those related to the Company's strategic markets; the risks and regulatory requirements associated with international operation, sales and foreign suppliers and the impact of foreign currency exchange; the cyclicality of capital spending of the Company's customers and lack of long-term customer contracts; 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 increasing investment in markets that are subject to increased regulation and potential product liability; the Company's outsourced manufacturing and IT dependence and risks associated with sole or single sources of supply; risks associated with product defects; potential delays associated with the development and introduction of new products; the Company's ability to sell its products through resellers 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 complete acquisitions to expand operations; risks of unfair termination claims by employees; 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.
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, 2009, which includes the discussion in Management's Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors.
SOURCE: Adept Technology, Inc.
Adept Technology, Inc.
Press and Industry Analysts:
Lauren Bucher, Marketing
Lisa Cummins, Chief Financial Officer