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by Stephanie Neil, MA Editorial Staff
Posted on Friday, September 02, 2005 5:00:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Robotics maker completes 18-month "recovery process," restarts revenue and earns $1 million for the year. |
Eighteen months ago, Adept Technology Inc. began a "recovery process"-- an emergency triage for the robotics and machine vision company -- comprised of divesting non-strategic business, reinventing the management team and pouring money back into R&D. With the disclosure of its fourth quarter and year-end fiscal results late yesterday, the company proclaimed the operation a success. For Q4 2005, ended June 30th, Adept reported net income of $633,000 on sales of $14.4 million. The numbers were comparable to the year ago period which had sales of $14.5 million and net income of $569,000. Year-end numbers showed a similar sales pattern, but a very different income statement. For fiscal 05, Adept reported revenues of $50.5 million compared to $49.1 million in fiscal 04. However, this year showed a net income of $1.0 million vs. last year's net loss of $7.3 million. [Click to continue] |
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