Appointment Reinforces Corporate Development Plan to Focus, Build and Extend Vision Software Business
LIVERMORE, Calif. --(BUSINESS WIRE)--June 10, 2004-- Adept Technology, Inc. (OTCBB:ADTK), a leading manufacturer of robotic systems, motion control and machine vision technology for the telecommunications, electronics, semiconductor, automotive, lab automation, and biomedical industries, today announced that Gordon Deans, has joined the Adept executive management team as vice president of business development and general manager of Adept Canada, formerly HexaVision Technologies, developer and provider of the advanced Vision product, HexSight(R). Mr.
Deans' appointment reinforces Adept's business strategy to build on the company's leadership role in vision object location and recognition software and fully integrated vision-guided robot control by aggressively focusing on improving, modernizing and extending its vision-related software business." We're delighted to have Gordon on board," said Rob Bucher, chairman and chief executive officer for Adept Technology, Inc. "Gordon's expertise and 20+ years of technical software marketing and business development will allow us to build depth in our current vision product toolset, offer products in the value-added robot application market segments including new approaches to vision guidance and inspection and extend Adept into new vision business."" I am excited about this new opportunity.
Adept has an exceptional reputation for quality vision technology and I believe it is poised for continued growth. Our plan is to fully utilize and extend the skills and talent we have in Adept Canada to expand and grow our vision business," commented Gordon Deans.Adept believes that by focusing its resources in Adept Canada on its vision products and capabilities the company will be able to deliver greater customer value and expand on its established vision brand.Prior to joining Adept, Gordon Deans held the position of president of Telere Technologies, Inc. a consulting firm providing product marketing and business development services to high-tech organizations.
Mr. Deans has also held a number of senior management and executive positions working for such companies as Nortel Networks and Norsat International Inc. Mr. Deans holds a Master of Electrical Engineering degree from Carlton University and a Bachelor of Science degree in electrical engineering from Queen's University.Adept Technology designs, manufactures and markets robotic systems, motion control and machine vision technology for the telecommunications, electronics, semiconductor, automotive, lab automation, and biomedical 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 liquidity, expenses, revenue and future operating results 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, its customers ability to pay invoices in a timely manner and lack of unexpected cash obligations, 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 company's continuing operating losses causing the company to need to raise additional financing in the future and the effect of the financing on current stockholders; the cyclicality of capital spending of the company's customers, including in the semiconductor industry 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 acquisitions, including integration risks associated with our previous acquisitions; 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 additional risk factors relating to Adept's business, see Adept's annual report on Form 10-K for the fiscal year ended June 30, 2003, as amended, and its quarterly reports on Forms 10-Q for the fiscal quarters ended September 27, 2003 and December 27, 2003 including the discussion in Management's Discussion and Analysis 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
