Adept Partners With MMI Holdings Ltd to Get Design Win From Major Japanese Disk Drive Manufacturer; Relationship Generates Initial Order for 22 Adept SCARA Robots and Expands Adept's Distribution Into Southeast Asia.LIVERMORE, Calif. -- Adept Technology, Inc., (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 :ADEP ADEP Association d'Entraide des Polios et Handicapés ADEP Accelerated Degree Evening Program ADEP Accelerator-Driven Energy Production ADEP Avionics Document for Execution & Planning ADEP Automatic Depth Control ), the leading provider of intelligent vision-guided robotics and global robotics services, today announced a new strategic partnership with Singapore-based MMI (Man Machine Interface) See HMI. 1. MMI - Man-Machine Interface. 2. (company) MMI - The company which developed the first Programmable Array Logic devices. MMI was bought by AMD. Systems Pte Ltd, a subsidiary of MMI Holdings Ltd. (SGX SGX Singapore Exchange SGX Supergreenx (trance/electronic musician) :MMI). MMI, which has additional operations in Thailand, Malaysia and China, is one of the premier systems integration and capital equipment contract manufacturing companies in Asia. The partnership with MMI expands Adept's regional presence and increases Adept's ability to deliver and support robotic automation solutions in Southeast Asia. The initial order from MMI is for 22 Adept Cobra s600 vision-guided robots, and is the first part of a multiphase Mul´ti`phase a. 1. (Elec.) Having many phases; Adj. 1. multiphase - of an electrical system that uses or generates two or more alternating voltages of the same frequency but differing in phase angle program that could yield several additional lines over the next two years. This program also represents Adept's first design win destined des·tine tr.v. des·tined, des·tin·ing, des·tines 1. To determine beforehand; preordain: a foolish scheme destined to fail; a film destined to become a classic. 2. for a major Japanese disk drive manufacturer. By combining the flexibility and speed of the Adept Cobra s600 with the precision of the AdeptVision sAVI System(TM), the project delivers a high-throughput solution for the assembly of disk drives for computer and consumer electronics products. "MMI is a world class equipment manufacturing company," said John Dulchinos, Vice President of Robotics for Adept Technology, Inc. "Their cost efficient infrastructure and extensive engineering skills combined with Adept's advanced robotics and vision technology enable a new class of performance." "We are very excited to be working with Adept Technology," said Angie Ng, Development Engineering Director of MMI. "Their powerful robotics and vision technology and strong support in Southeast Asia make them an ideal partner for advanced manufacturing requiring the latest in robotic solutions." About MMI MMI is an electro-mechanical contract manufacturer providing OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and and ODM (Original Design Manufacturer) A contract manufacturer that uses its own designs and intellectual property (IP). See contract manufacturer. contract manufacturing services for its strategic customers in multi-industries: data storage, photonics, communications, semi-conductor equipment, automotive and industrial automation. Our value-add services include turnkey design, manufacturing integration solutions in precision engineering components, sub-assemblies, modules to complete finished products, capital equipment and systems. More information is available at www.mmi.com.sg. About Adept Adept Technology, Inc. designs, manufactures and markets robotic systems, motion control and machine vision technology for global markets including automotive, consumer electronics, consumer goods consumer goods Any tangible commodity purchased by households to satisfy their wants and needs. Consumer goods may be durable or nondurable. Durable goods (e.g., autos, furniture, and appliances) have a significant life span, often defined as three years or more, and , food, industrial tooling, medical devices, and pharmaceutical. Adept robots, controllers, and software are used for small parts assembly, material handling and packaging. Adept intelligent automation product lines include industrial robots, configurable linear modules, machine controllers for robot mechanisms and other flexible automation equipment, machine vision, and systems and applications software. Founded in 1983, Adept Technology is the largest U.S.-based manufacturer of industrial robots. More information is available at www.adept.com. This press release contains certain forward-looking statements including statements regarding future operational performance 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, future economic, competitive and market conditions including those in Europe and Asia and those related to the company's strategic markets; 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; dependence upon the company's suppliers; the risks associated with product defects; the potential delays associated with the development and introduction of new products or software releases; or decreased acceptance of the company's new or current products in the marketplace. For a discussion of risk factors relating to 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, 2005, and Adept's quarterly report on Form 10-Q for the quarter ended October 1, 2005, which includes 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 and Factors Affecting Future Operating Results 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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