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Last $7.45 USD
Change Today +0.29 / 4.05%
Volume 56.4K
ADEP On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 08/3/15 All times are local (Market data is delayed by at least 15 minutes).

adept technology inc (ADEP) Key Developments

Adept Technology, Inc. Hires Brian McMorris as Vice President of North American Sales for Fixed Robotics

Adept Technology Inc. announced that it has hired Brian McMorris as Vice President of North American Sales for Fixed Robotics.

Adept Technology Adds Olympus Controls, Inc as New Distributor

Adept Technology, Inc. announced that it has added a new distributor, Olympus Controls, Inc. A full-service automation provider, Olympus Controls will market and support Adept's portfolio of mobile robots in Washington, Oregon, California, Idaho, Montana, Texas and Oklahoma.

Adept Technology, Inc. and MNCVAD-CP Norris Canyon, LLC Enter into Lease Agreement

On July 2, 2015, Adept Technology Inc. and MNCVAD-CP Norris Canyon, LLC entered into a lease agreement providing for the lease by Adept of office, light manufacturing and warehouse space totaling approximately 49,000 square feet in San Ramon, California. The lease term ends 124 months after its commencement date, anticipated to be October 1, 2015. Under the lease agreement, Adept agreed to pay base rent of approximately $57,250 per month in the initial year of the lease subject to specified rent abatement, which base rent rises annually until it reaches $85,630 for the final four months of the lease, plus payment of its share of certain utilities and other similar operating expenses. Adept is required to deliver for the benefit of Landlord a letter of credit for security of certain Adept obligations. The lease agreement also provides Adept with an option to extend the lease an additional five year term and an option to lease additional space.

Adept Technology Introduces Hornet 565 Robot

Adept Technology Inc. has introduced a new parallel robot, the Hornet 565. Featuring high-speed pick and place capabilities, the Hornet 565 offers ease of deployment and advanced performance ideal for packaging applications. Adept will debut the Hornet 565 at its China International Robot Show (CiROS) 2015 tradeshow booth, A116, in ShanghaiJuly 8-11. Key characteristics of the Hornet 565 include: price/performance. As compared to competitive robots 25% faster, 25% larger workspace, 50% lighter, 50% less footprint, 25% larger workspace, 3kg (6.6 lb) payload capacity, Controller-less architecture, and Hygienic design and corrosion-resistant materials that minimize contamination risk and allow easy wash down. Hornet 565 offers fast, precise pick and place capabilities and conveyor tracking. To allow easy system deployment, the Hornet 565 system comes with Adept ACE software, an integrated, point-and-click development environment for Adept's entire product portfolio of robots and controls. Options include the Adept SmartVision MX platform for machine vision and guidance, and ACE PackXpert software for deploying complete packaging automation solutions.

Adept Technology, Inc. Adds Shanghai Micro Electronics Equipment Co., Ltd. as New Distributor

Adept Technology Inc. added a new distributor in China, Shanghai Micro Electronics Equipment Co. Ltd. (SMEE). SMEE develops and sells advanced semiconductor manufacturing equipment. Concurrent with entering this agreement, SMEE placed its initial order for multiple units of Adept's Lynx autonomous intelligent vehicle (AIV) products to be operated in fleets and delivered over the next six months. SMEE will market and support Adept products in China and throughout the Asia region, with a focus on the semiconductor industry, including advanced IC packaging, and LED substrate and chip fabrication. The company will also sell Adept's products to customers in the hospital, medical, warehousing, logistics, general manufacturing, and consumer electronics markets.

 

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Industry Analysis

ADEP

Industry Average

Valuation ADEP Industry Range
Price/Earnings NM Not Meaningful
Price/Sales 1.7x
Price/Book 5.5x
Price/Cash Flow NM Not Meaningful
TEV/Sales 1.8x
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