Adept Robots Revenue Gains

LIVERMORE, Calif.--(BUSINESS WIRE)--Nov. 2, 2005--Adept Technology, Inc. (OTCBB:ADEO) today announced results of its operations for its first quarter fiscal 2006 which ended October 1, 2005. Revenues were $14.6 million, an increase of $3.3 million or 29.6% over the comparable period in fiscal 2005. Gross margin for the first quarter 2006 was $7.5 million, an increase of $2.0 million or 36.7% from the same period of the prior year.

Adept, the largest industrial robot manufacturer in the USA, delivered 52% more SCARA and 6-axis intelligent multi-axis robots in the first quarter of fiscal 2006 than the same period last year.

Gross margin was 51.0% in the first quarter of fiscal 2006 compared to 48.4% in the same quarter of fiscal 2005. The gross margin improvement resulted from a sales mix favoring higher margin products, as well as improved robot component designs, increased outsourcing of robot subassemblies, and reduced manufacturing overhead costs.

Adept: News Release