BRIEF: Adept red ink deepens and sales slump, triggered by weaker orders and a sour economy
PLEASANTON, Nov 09, 2012 (Contra Costa Times - McClatchy-Tribune Information Services via COMTEX) --
Adept Technology suffered a deeper loss and slumping sales for its first quarter of fiscal 2013 that ended in September, the maker of intelligent industrial robots and software reported.
"The results of the first fiscal quarter were severely impacted by economic weakness that drove global cuts in capital spending resulting in delayed orders and slowed customer deployments," Adept CEO John Dulchinos said in a prepared release.
Pleasanton-based Adept lost $3.1 million compared to a year-ago loss of $619,000. Sales totaled $11.4 million, down 31 percent from the year before.
"The decline was widespread but most significantly affected our customers in Asia and Europe." Dulchinos said. "We are disappointed with the results."
Contact George Avalos at 925-977-8477. Follow him at twitter.com/george_avalos.
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