Adept Technology Records First Adept Quattro Robot Sales to Asia
LIVERMORE, Calif. --(Business Wire)-- Adept Technology, Inc. (NASDAQ:ADEP), the leading provider of intelligent vision-guided robotics and global robotics services, today announced it has received multiple orders for Adept Quattro(TM) s650 robots from customers in the Asia-pacific region. The sales mark a key milestone in the company's global packaging initiative. The high speed robots were sold into packaging applications in Japan and Korea and represent the company's first sales into the world's largest and fourth largest (respectively) robotics markets, according to market statistics from the International Federation of Robotics.
"These Adept Quattro robot orders are a significant achievement for Adept in Asia," said John Dulchinos, president of Adept Technology, Inc. "They represent the expansion of our Quattro leading edge technology into the world's largest robotics markets and also attest to the success of our global distribution strategy."
The Adept Quattro robot was selected for these applications for its sanitary design, large work envelope and its ability to delicately handle the confection pieces at very high speeds. The applications will also use Adept's ultra-compact controls and vision guidance technology.
The Adept Quattro robot orders from Japan came through Innovation Matrix, Adept's distributor for the region. The orders from Korea came through Han Shin Power Tech Co., Ltd., Adept's recently added exclusive dealer for Korea and reflect the benefit of Adept's global distribution expansion strategy over the past 2 years.
The Adept Quattro s650 robot, first introduced by Adept in 2007, offers a unique four arm Parallel kinematic offers major advantages over the traditional three arm Delta style kinematic. As is the case with most other robots from Adept, the amplifiers are in the base of the robots. Since the official launch of the Adept Quattro, over 200 systems have been sold.
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.
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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.