Robot and machine vision vendor Adept Technology Inc. was re-listed on NASDAQ on November 15 of last year under the symbol "ADEP."
The company has been rebuilding itself over the last two years, divesting its systems integration business, adding a new management team, and refocusing on robotics, motion control, and machine vision. During the restructuring, company revenue dropped dramatically, but recently, full year sales exceeded $50 million for the first time since 2001, officials said. The company delivered over 1,000 multi-access robots and over 2,000 vision controllers in fiscal 2005.
Officials say the NASDAQ re-listing signifies a turnaround. "We believe the stability and coverage of the NASDAQ National Market furthers our efforts to deliver growth and enhanced shareholder value," said CEO Robert H. Bucher, in a statement.
This article originally appeared in the January 2006 issue of Managing Automation magazine.