Tuesday, April 20, 2010

Hmmm. Do we need to worry about intelligent robots being sold by Adept Technology (ADEP)

...Or did I see Terminator 2 too many times.  (The answer is yes to the latter...)

Joking aside, some good news for Adept Technology of Sunnyvale California, who announced a $3 million "robot deal."   
PLEASANTON, Calif., Apr 20, 2010 (GlobeNewswire via COMTEX News Network) -- Adept Technology, Inc. (Nasdaq:ADEP), a leading provider of intelligent vision-guided robotics and global robotics services, today announced it has received a $2.9 million order for high-precision robots from a major global leader in consumer electronics. The order is expected to be fulfilled and recognized as revenue over the next two quarters. The company selected Adept as its automation partner to provide high-speed vision-guided robot systems for complex, precision handling operations after conducting a thorough investigation of potential suppliers. Adept has been serving the consumer electronics and information technology industry with high-precision mechanisms and controls in both standard and cleanroom configurations for over 20 years.
Over the past four quarters, Adept has had revenue of between $7.7 and $11.7million per quarter, so this deal is of significant size.  Shares are up 3% on the news.  Cheers to them, and let's hope those robots don't become "self-aware..."

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