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Adept Technology CEO Discusses F4Q12 Results - Earnings Call Transcript

In the quarter, we also announced the signing of a strategic development agreement with Earthbound Farms where we will work together to develop, test and market advanced technologies for automated packaging in the fresh cut market. This should allow Adept to continue to advance and refine our automated packaging solution with an industry leading and well respected customer.

In the quarter, we also re-architected our packaging solution to make them more modular, easy to build and facilitated more flexible more sourcing strategy. As part of this, we rebranded the technology we acquired from InMoTx to better reflect the solutions we are providing from our customer's perspective.

In connection with this, we announced the launch of the Adept ClamPAC, Adept's standard automated solution for clamshell packaging utilizing our acquired SoftPIC technology and validated at Earthbound Farms. We will be doing the official market launch of this rebranded product line at Pack Expo, the country's largest packaging show in October in Chicago.

Over the course of this upcoming fiscal year, we expect to launch several additional Adept pack solutions for various secondary packaging applications in the fresh cut and other fruit markets. Finally, in packaging solutions, we have realigned our U.S. sales force as we added dedicated packaging solutions sales people to focus on the commercialization of our solution.

In our mobile robots business, I am pleased to announce the installation and validation of our first vertical application solution with a leading semiconductor foundry customer. Over the past 15 months, we have been working with this lead customer to adapt our unique natural feature navigation technology to automate and optimize the movement of wafer cassettes within their semiconductor wafer fab.

They have recently published article in the Business Times of Singapore. Our customer sates, the typical operator will walk 11 to 14 kilometers per day resulting in more than hour of lost productivity per shift. They went on to say that with efficiency gains made with our robots, they expect to save more than $800,000 in this year alone. This fall, we would be validating the next phase of this program with the installation of the first robot to automatically load and unload wafer cassettes from their process tool.

Read the rest of this transcript for free on seekingalpha.com

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