Adept Technology Q3 results severely impacted by economic weakness

theflyonthewall.com

CEO John Dulchinos commented: "The results of the first fiscal quarter were severely impacted by economic weakness that drove global cuts in capital spending resulting in delayed orders and slowed customer deployments. The decline was widespread but most significantly affected our customers in Asia and Europe, in both our core product lines and new initiatives. We are disappointed with the results, particularly at this junction when we are relying on our core business to support the investments we are making in our new businesses."

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