adept technology inc (ADEP) Key Developments
Adept Technology, Inc. Introduces Two New Additions to its Viper Family of 6-Axis Articulated Robots
Oct 6 15
Adept Technology Inc. has introduced two new additions to its Viper family of 6-axis articulated robots -- the Viper 700 and Viper 900. These are the first in a series of new 6-axis robots from Adept that will include additional reach and payload capabilities. The Viper 700 and Viper 900 models offer the versatility of a large working area with the convenience of a streamlined, compact architecture, making them ideal for assembly, material handling and machine tending applications. Adept is debuting the new Viper models this week at the Motek trade show in Stuttgart, Germany. The Viper 700 and Viper 900 offer fast, precise arm movements with a maximum reach of 723 mm and 912 mm, respectively. They accommodate payloads up to 7 kg. Other key features include: A slim robotic arm design that minimizes the space required for work cells; An IP67 rating standard on both models, and corrosion-resistant materials for easy wash down; Powerful controls embedded into an amplifier approximately half the size of competitive robot amplifiers, saving floor space and reducing installation cost and complexity; A hollow wrist that streamlines cabling to the end-of-arm tooling, minimizing risks associated with brushing cables against other objects in the workspace. To enable rapid deployment, Viper 700 and Viper 900 robots are equipped with Adept ACE software, a unique tool offering a friendly point-and-click application development environment to allow offline programming, 3D process emulation, and optional vision guidance and conveyor tracking integration.
Adept Technology Inc. Approves Amendments to Bylaws
Sep 16 15
On September 15, 2015, Adept Technology Inc.’s board of directors adopted amendments to the company's bylaws. The following is a summary of the principal changes effected by the amendments: The Bylaws were amended to clarify notice requirements related to nominations and other business to be properly brought before an annual meeting of stockholders. The Bylaws were revised to permit advancement of expenses to directors and officers in connection with the defense or settlement of legal proceedings. The Bylaws were revised to include a forum selection clause for internal corporate claims. Other amendments to the Bylaws were adopted which were either corrective in nature or were conforming changes.
Adept Technology, Inc. Adds YS-Thermtech Co., Ltd. as New Distributor
Sep 2 15
Adept Technology Inc. has added a new distributor in the Republic of Korea, YS-Thermtech Co. Ltd. YST develops and sells industrial furnaces and automated equipment for a broad range of manufacturing sectors, including photovoltaics (PV), advanced materials, metallurgy, and others. With 35 years' experience, YST provides solutions using its core engineering capabilities in thermal, vacuum, and automation technologies. Concurrent with entering the agreement with Adept, YST placed an initial order for 100 units of Adept's Lynx autonomous intelligent vehicle (AIV) products to be operated in fleets and delivered over the next three years.
Adept Technology Inc. Announces Consolidated Earnings Results for the Fourth Quarter and Full Year Ended June 30, 2015; Provides Revenue Guidance for the First Quarter of 2015
Aug 31 15
Adept Technology Inc. announced consolidated earnings results for the fourth quarter and full year ended June 30, 2015. For the quarter, the company reported revenues of $13,882,000 against $14,260,000 a year ago. Operating loss was $1,539,000 against $520,000 a year ago. Loss before income taxes was $1,650,000 against $371,000 a year ago. Net loss attributable to common stockholders was $1,410,000 or $0.10 basic and diluted per share against $367,000 or $0.03 basic and diluted per share a year ago. Negative adjusted EBITDA was $1,128,000 against adjusted EBITDA of $287,000 a year ago. Foreign exchange rates negatively impacted revenues by approximately $1.5 million compared to the prior year rates.
For the year, the company reported revenues of $54,195,000 against $57,540,000 a year ago. Operating loss was $4,820,000 against $347,000 a year ago. Loss before income taxes was $5,329,000 against income before income taxes of $10,000 a year ago. Net loss attributable to common stockholders was $5,009,000 or $0.38 basic and diluted per share against $781,000 or $0.07 basic and diluted per share a year ago. Negative adjusted EBITDA was $3,329,000 against adjusted EBITDA of $3,122,000 a year ago. Foreign exchange rates negatively impacted revenue by approximately $3 million compared to the prior year rates.
The company provided revenue guidance for the first quarter of 2015. Looking ahead, they believe first quarter revenues will be in the range of $13.5 million to $15 million. On the operating expense side, they will continue to strategically invest in the business initiatives to drive long-term growth in line with revenue levels.
Adept Technology Inc. Presents at The Liolios Group 4th Annual Gateway Conference, Sep-10-2015 04:00 PM
Aug 26 15
Adept Technology Inc. Presents at The Liolios Group 4th Annual Gateway Conference, Sep-10-2015 04:00 PM. Venue: Four Seasons Hotel San Francisco, 757 Market Street, San Francisco, CA 94103, United States.