Adept Technology Announces Orders For Over $600K From Chinese Partner
PLEASANTON, Calif., Jan. 18, 2011 (GLOBE NEWSWIRE) -- Adept Technology, Inc. (Nasdaq:ADEP), the leading provider of intelligent vision-guided robotics and global robotics services, announced that they have received over $600,000 in bookings from Golden Spring Internet of Things, Inc. over the past two quarters which are expected to be fully shipped and recognized as revenue by the end of the third fiscal quarter of 2011. The Beijing-based company, which recently went public in China in early October 2010, placed orders for Adept's high-performance Python linear modules robots.
Adept's robots are designed into multiple models of Golden Spring's fully-automated RFID manufacturing equipment, including smart label flip chip bonders, welding machines, high-precision pick-and-place machines, and high-throughput implanters/embedders. Golden Spring's equipment has been widely deployed throughout China for applications such as the major Chinese National ID card and driver license program and for manufacturing tickets for the 2008 Beijing Olympics and the 2010 Shanghai World Expo.
"For over 10 years, Adept has been working together with Golden Spring in their development and installation of over 100 machines using Adept equipment," said Hai Chang, Managing Director, Asia Operations. "From our perspective, Golden Spring was many years ahead of other Chinese companies in their use of advanced motion control and vision guidance technologies. It is Golden Spring's hard work, tireless dedication to their customers, and total commitment to innovation and quality that have made them the international market leader that they are today.""Adept has been a dependable and loyal supplier and partner for our state-of-the-art RFID equipment for over a decade," said David Zhang, Chairman and General Manager of Golden Spring. "While there are dozens of robot technology suppliers to choose from, we firmly believe that our choice in using Adept's advanced products is the right choice for Golden Spring as we continue to expand our installations around the world. Adept has consistently provided us with highly reliable, advanced performance products with excellent value and service."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV