Adept Technology Inc. (San Jose, CA), a manufacturer of automation for the semiconductor and telecommunications industries, announced that its fourth-quarter fiscal 2004 net revenues from continuing operations were $14.5 million, an increase of 45% over the comparable period in 2003.
During the quarter ended June 30, 2004, the company reported pre-tax income from continuing operations of $557,000 compared with a pre-tax loss from continuing operations of $6 million for the same quarter a year ago. In total, Adept reported net income of $568,000, or $0.02 per share, for the three months ended June 30, 2004, versus a net loss of $6.4 million, or $0.42 per share, for the same period a year ago.
Net revenues from continuing operations for the year ended June 30, 2004, were $49.1 million, a 28.4% increase over the $38.2 million reported for the year ended June 30, 2003. The company reported pre-tax losses of $1.7 million from continuing operations and $7.2 million from discontinued operations for the year ended June 30, 2004. In total, Adept's net loss for the year ended June 30, 2004, was $7.3 million, or $0.27 per share, versus a net loss of $29 million, or $1.94 per share, for the same period a year ago.
