Adept Technology (ADEP) Reports Q2 Results
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Adept Technology, Inc. (Nasdaq: ADEP) reported fevenues for the second quarter of $11.0 million, compared to $14.4 million for the same period last year. The Company reported a GAAP net loss of $4.6 million, or $0.57 per share in the second quarter of fiscal 2009, which includes restructuring charges totaling $1.9 million, of which $1.4 million resulted from the write down of service inventory related to the discontinuation of remanufactured robots.
Adept Technology announced it is reducing its labor force of approximately 9% and across the board employee and management pay cuts.
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