TORONTO - Adeptron Technologies, an integrator of electronics products, today reported March quarter revenue of $8.47 million, up 42% from 2004. The GAAP net loss narrowed to $460,000 vs. $1.1 million in 2004.

Sales improved "significantly" during the quarter, the company said, and current indications "are that this strength has continued into the second quarter."

Of the sales increase, $1.24 million came from the company's Ottawa operations acquired in the first quarter 2004.

For the quarter, gross margin increased to $930,000, from $100,000 a year ago. Selling, general and administrative costs were $1.14 million, down 13.6% from $1.32 million.

Sequentially, sales were slightly higher while the net loss was lower.

F. Michael Marti, president and CEO, said Adeptron "has made significant progress by reducing costs while maintaining revenue. Starting in the fourth quarter of 2004, we engaged in an aggressive and ongoing campaign to improve the cost structure. The cumulative effects of these cost reduction measures will be more evident in the second quarter and fully reflected by the third quarter."

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YAVNE, Israel -  Valor Computerized Systems reported continued growth in the first quarter of 2005, with revenues of $8.7 million, a 22% increase over Q1 2004.
 
Sales increased by 27% and maintenance revenues increased by 13% over last year's first quarter.
 
The financial statements incorporate for the first time the adoption of new International Financial Reporting Standards published by the International Accounting Standards Board. Net profit before expensing Share-Based Compensation was $823,000 in Q1 '05 - nearly three times higher than the same quarter last year ($295,000).
 
Research and Development expenses were $2.8 million - an increase of 5.7% year-on-year.

NATICK, MA -Cognex Corp., a supplier of machine vision systems, has acquired DVT Corp., a privately-held company based in Duluth, GA.

 

Cognex purchased the outstanding shares of DVT with a cash payment of $104 million made at the closing, and a final payment of up to $11 million in cash to be paid at the end of a one-year escrow period.

Cognex plans to maintain operations at the Georgia facility, and to continue selling and supporting the vision products through DVT's existing third-party distribution channel.

As a result of the acquisition, Cognex expects an increase in its revenue of approx. $15 - $20 million during fiscal year 2005.