NOVEMBER 3--Adept Technology (Livermore, CA; www.adept.com) has announced results of operations for its first-quarter FY2006, which ended October 1, 2005. Revenues were $14.6 million, an increase of $3.3 million or 29.6% over the comparable period in FY2005. Gross margin for 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 reported net income of $160,000, or $0.03 per basic share, for the three months ended October 1, 2005, versus net income of $40,000, or $0.01 per basic share, for the same period a year ago.
"The first quarter of FY2006 showed the best operational performance since I have been with the company," said Robert Bucher, chairman and CEO. "Adept posted a robust top line revenue growth and a historic high gross margin. Adept nearly doubled its service revenue and increased assembly robot revenue from vertical market sales in the USA and S.E. Asia. European revenue was relatively high for a summer quarter, due to design win bookings and new customers in Germany and France. And with volume delivery of the new Adept MotionBLOX motion-control platform, Adept's margins continue to improve, reflecting common Adept 'Smart Servo' software and system investments."
During the quarter, Adept also launched Adept Python, a high-performance, but low-cost, line of linear robots, an extended reach Adept Viper 6-axis robot and a smaller footprint, Adept Cobra SCARA 4-axis robot. As part of this product introduction, Adept invested in trade-show and seminar participation and added new product and service sales and support staff.