Adept Launches New Global Vertical Market Business Initiative.LIVERMORE, Calif. -- Initiative to Focus Resources on Developing Vertical Applications for Customers in the Telecom, Data Storage and Automotive Component Markets Adept Technology, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :ADEO ADEO Air Defense Engagement Operations (US Army) ), a leading manufacturer of robotic systems robotic system An integrated system of devices that automate production and manufacturing of goods and services Surgery An AI-based surgical assistant system, which processes sensory input from haptic interfaces and/or allows surgeons to act with more accuracy than , motion control and machine vision technology, today announced it has launched a new global vertical market business initiative. The new initiative will focus resources on developing vertical applications for customers in the telecom, data storage and automotive component markets. With this new organizational change the following appointments have been made within the company: Barry Dale Vice President, Global Telecom Business Rodger Marble Vice President, Global Computer Products Keith Bailey Director, Global Automotive Business Tim Coogan Vice President, Strategic Alliances "Customers in the telecom, data storage and automotive components markets have the most demanding manufacturing requirements anywhere in the world," said John Dulchinos, vice president of sales and general manager of robotics for Adept Technology. "We believe that Adept's new organization will allow us to deliver flexible manufacturing solutions that meet these global customers' unique needs for quality, productivity and flexibility." The company plans to focus on working directly with leading customers in these markets providing direct sales, service and engineering to develop more comprehensive and targeted products, applications and services. Adept believes that its new focused organization combined with its strong engineering capabilities and world-wide support infrastructure will allow it to provide flexible automation solutions that meet the dynamic requirements of customers in these markets. Adept Technology designs, manufactures and markets robotic systems, motion control and machine vision technology for the telecommunications, electronics, semiconductor, automotive, lab automation, and biomedical bi·o·med·i·cal adj. 1. Of or relating to biomedicine. 2. Of, relating to, or involving biological, medical, and physical sciences. industries throughout the world. Adept's robots, controllers, and software products are used for small parts assembly, material handling and packaging. Adept's intelligent automation product lines include industrial robots, configurable linear modules, machine controllers for robot mechanisms and other flexible automation equipment, machine vision, systems and software, and application software. Founded in 1983, Adept Technology is America's largest manufacturer of industrial robots. More information is available at www.adept.com. This press release contains certain forward-looking statements including statements regarding our common stock, its trading activity, liquidity, and price levels and volatility; and NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on relisting requirements and our ability to achieve them, which depend upon expenses, margins, revenues and future operating results that involve a number of risks and uncertainties. The company's actual results could differ materially from those expressed or implied in any of the above forward-looking statements for a variety of reasons, including but not limited to, 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; the financial and operating risks and regulatory requirements associated with the company's international operations Internal Operations (I.O., IO or I/O) is a fictional American Intelligence Agency in Wildstorm comics. It was originally called International Operations. I.O. first appeared in WildC.A.T.S. volume 1 #1 (August, 1992) and was created by Brandon Choi and Jim Lee. ; the company's limited cash resources and cash flow which could impair the company's operations and revenue generating activities; the capital spending capital spending Spending for long-term assets such as factories, equipment, machinery, and buildings that permits the production of more goods and services in future years. cyclicality 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 fixed costs, n.pl the costs that do not change to meet fluctuations in enrollment or in use of services (e.g., salaries, rent, business license fees, and depreciation). which are not easily reduced; the risks associated with sole or single sources of supply and lengthy procurement lead times The interval in months between the initiation of procurement action and receipt into the supply system of the production model (excludes prototypes) purchased as the result of such actions. It is composed of two elements, production lead time and administrative lead time. ; the risks associated with the seasonality of the company's products; the risks associated with acquisitions, including integration risks; the risks associated with product defects; the potential delays associated with the development and introduction of new products or software releases; decreased acceptance of the company's new or current products in the marketplace; 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 which are not always in our control; or risks associated with our stock trading on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. including liquidity and price risks, and fluctuations in our stock price. For a discussion of additional risk factors relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc Adept's business, see Adept's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the fiscal year ended June 30, 2004, and quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarters ended October 2, 2004, and January 1, 2005, including the discussion in Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial of Financial Condition and Results of Operations contained therein. The Adept logo is a registered trademark of Adept Technology, Inc. Adept is a trademark of Adept Technology. All other trademarks are owned by their respective companies. |
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