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
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV