Adept Technology : Adept Signs Agreement With CT Robotics LLC to Expand USA Distribution
07/26/2007| 08:30am US/Eastern
Adept Technology, Inc. (NASDAQ:ADEP), the leading provider of
intelligent vision-guided robotics and global robotics services,
announced that they have signed an agreement with CT Robotics, LLC, to
be the exclusive representative for Adept's
products in the Northeast U.S.A. The relationship between the companies
accelerates Adept's distribution expansion
strategy and provides customers in the Northeastern U.S. with 25 years
of automation expertise based locally in their region.
Under the terms of the agreement, CT Robotics will be the exclusive
representative for Adept products and applications services in the
Northeast region of the United States. The alliance extends Adept's
global distribution expansion strategy initially implemented in Europe.
CT Robotics, LLC will maintain a Technical Robotics Center in the region
to perform customer demonstrations and feasibility studies and
facilitate implementation of flexible automation programs.
?We are thrilled to have CT Robotics, LLC as
Adept's exclusive representative,?
said John Dulchinos, president and COO of Adept Technology, Inc. ?Their
wealth of automation experience will provide customers implementing
robotic solutions with a solid foundation of expertise to draw on.?
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; 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
This press release may contain certain forward-looking statements
including statements regarding growth, revenues, cash, margins, expenses
and products 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: the company's limited cash resources; its
customers' ability to pay invoices in a timely manner; the risk that
some of its customers may become insolvent; 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 financial and
operating risks and regulatory requirements associated with the
company's international operations; the cyclicality of capital spending
of the company's customers and lack of long-term customer contracts; the
company's dependence on the continued growth of the intelligent
automation market; the company's highly competitive industry; rapid
technological change within the intelligent automation industry; the
lengthy sales cycles for the company's products; the company's
significant fixed costs which are not easily reduced; the risks
associated with sole or single sources of supply and lengthy procurement
lead times; the risks associated with the seasonality of the company's
products; the risks associated with product defects; the 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; or risks associated with variations in our
gross margins based on factors which are not always in our control.
For a discussion of risk factors relating to Adept's business, see
Adept's annual report on Form 10-K for the fiscal year ended June 30,
2006 and its Quarterly Report on Form 10-Q for the quarter ended March
31, 2007, including the discussion in Management's Discussion and
Analysis of Financial Condition and Results of Operations and Risk
Factors contained therein.
Adept Technology, Inc.
Press and Industry Analysts:
Bucher, Marketing, 925-245-3533 (voice)
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