… It was just last February that Rob Cain replaced John Dulchinos as CEO of Adept Technology. Cain had worked with Adept for a few months as advisor and representative of Hale Capital Partners and crafted a restructuring plan approved by the company and it’s financial partners. It appears that things are working according to plan.
… On August 27th Adept announced their quarterly earnings which were essentially just reaching break-even, but it showed that Adept’s turnaround plan was working. The stock rallied to close up 26.9% to $4.15 on August 27 and is up again to $5.95 – another 27% for the day.
… One analyst reported: While the June 2013 quarter represents a tentative improvement, it shows demand for Adept’s robots is returning and the company has a much lower cost structure than one year earlier.