Vision Guided Robotic Applications Expect 27% Growth Rate Through 2009
LIVERMORE, Calif.--(BUSINESS WIRE)--July 31, 2007--Adept Technology, Inc. (NASDAQ:ADEP), the leading provider of intelligent vision-guided robotics and global robotics services, today announced that the United States Patent and Trademark Office (USPTO) has awarded the company three patents on its innovative Smart Camera systems. U.S. Patents Nos. 6,958,780, 6,988,008 and 7,174,224, each titled "Smart Camera," detail systems and methods for machine control systems employing digital cameras.
The Adept patents cover the application of new Smart Cameras with robotics or motion mechanisms where the image processing is done within the camera versus traditional PC-based systems. This lowers the cost of vision adoption in assembly and material handling manufacturing applications. The granting of these patents means that Adept now owns more than a dozen patents covering the core technology for vision-guided robotics systems.
Adept pioneered vision-guidance capabilities for manufacturing over twenty years ago and has delivered more than 15,000 vision-guided robots to customer installations. Adept vision systems deliver state-of-the-art, geometric-object location and highly-accurate, robot-to-vision calibration. The seamless integration of vision with motion control creates the most robust, scalable and flexible automation systems available. The independent industry group, Robot Industry Association (RIA) has forecasted the market for vision-guided and vision-based systems, essential for precision manufacturing and quality control, to expand by over 27% per annum through to the year 2009.
"Adept's Smart Camera patents are designed to protect our continued software investment in core intellectual property associated with vision based automation," said Rob Bucher, Adept's CEO, "We are please that the US Patent and Trademark Office has recognized our contributions to this field by granting us these foundational patents."
About Adept Technology, Inc.
Adept is a global, leading provider of intelligent robotics systems and services that enable customers to achieve precision, speed, quality and productivity in their assembly, handling, packaging, testing and other automated processes. With a comprehensive portfolio of high-performance motion controllers, application development software, vision-guidance technology and high-reliability robot mechanisms, Adept provides specialized, cost-effective robotics systems and services to high-growth markets including Packaged Goods, Life Sciences, Disk Drive/Electronics and Semiconductor; as well as to traditional industrial markets including machine tool automation and automotive components. More information is available at www.adept.com.
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This press release may contain certain forward-looking statements including statements regarding growth, revenues, cash, margins, expenses and products 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: the company's limited cash resources; 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; risks of acceptance of the company's new or current products in the marketplace; the financial and operating risks and regulatory requirements associated with the company's international operations; the cyclicality of capital spending 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 which are not easily reduced; the risks associated with sole or single sources of supply and lengthy procurement lead times; the risks associated with the seasonality of the company's products; the risks associated with product defects; the potential delays associated with the development and introduction of new products or software releases; the company's ability to sell its products through systems integrators and original equipment manufacturers who may also promote competing products; or risks associated with variations in our gross margins based on factors which are not always in our control.
For a discussion of risk factors relating to Adept's business, see Adept's annual report on Form 10-K for the fiscal year ended June 30, 2006 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2007, including the discussion in Management's Discussion and Analysis of Financial Condition and Results of Operations and Risk Factors contained therein.
CONTACT: Adept Technology, Inc.
Press and Industry Analysts:
Lauren Bucher, Marketing, 925-245-3400
Lisa Cummins, Chief Financial Officer, 925-245-3413
SOURCE: Adept Technology, Inc.