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by Emily-Sue Sloane, MA Editorial Staff
Posted on Thursday, September 04, 2008 3:39:00 PM Sign Up to receive Daily News Alerts in your E-mail Inbox    | Abstract: | Adept Technology rides a vertical market and geographic diversification strategy to a strong year-end performance, bucking the robotics industry trend. |
| Keywords: | Robotics maker, robot sales |
Robotics and control supplier Adept Technology, Inc. on Wednesday reported sizable fourth-quarter and fiscal 2008 revenue increases, defying a downward trend in the overall robotics industry.
At the same time, the company announced that Adept President John Dulchinos is taking over as chief executive officer, succeeding Robert Bucher, who was named executive chairman of the board. Dulchinos will also retain his title as president.
Adept’s fourth-quarter revenue reached $16.7 million, up 35.8% from $12.3 million in the prior year’s fourth quarter. And the company turned last year’s red ink black with net income of $900,000, compared with a net loss of $5.7 million. A positive currency exchange contributed $560,000 to the net income total.
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