Contacts:
Steven L. Moore
Chief Financial Officer
925 245 3400
investor.relations@adept.com
 
 
ADEPT REPORTS FINANCIAL RESULTS FOR ITS FOURTH QUARTER
AND FISCAL YEAR 2006
 
Livermore, CA - October 13, 2006
- Adept Technology, Inc. (Nasdaq: ADEP), a leading provider of control software, precision robotics and automation services, today reported financial results for its fiscal fourth quarter and year ended June 30, 2006 and announced the restatement of its fiscal 2006 quarterly reports.
 
Fourth quarter 2006 revenues were $14.9 million, a 4% increase compared with revenues of $14.4 million for the fourth quarter of 2005. Revenues for the full year ended June 30, 2006 were $57.6 million, up 14% from revenues of $50.5 million for fiscal 2005. Fourth quarter 2006 net income was $984,000, or $0.14 per basic share outstanding, compared with net income of $903,000, or $0.15 per basic share, for the fourth quarter of 2005. Net income for the full year 2006 was $538,000, or $0.08 per basic share outstanding, compared with net income of $1.3 million, or $0.21 per basic share for the prior year. Net income for 2006 includes non-cash stock compensation expense of $1.2 million, associated primarily with the valuation of stock options, as required by FAS 123R. No stock compensation expense was included in 2005 earnings. Additionally, net income reflects a gain on currency exchange of $86,000 for the full fiscal year 2006 compared with a gain on currency exchange and other income of $584,000 in fiscal 2005.
 
Gross margin for fiscal 2006 was 47.3%, compared with gross margin of 45.9% in the previous year. Operating income for fiscal 2006 was $566,000, compared with operating income of $874,000 in fiscal 2005. Operating income for fiscal 2006 includes stock compensation expense of $1.2 million while fiscal 2005 operating income does not.
 
 
 

The following information was filed by Adept Technology Inc (ADEP) on Friday, October 13, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Adept Technology Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Adept Technology Inc.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account