Adept Technology jumps after FQ4 results

|About: Adept Technology, Inc. (ADEP)|By:, SA News Editor

Adept Technology (ADEP +19.6%) soars after reporting a 25% sequential increase in revenue and a 330 bps Q/Q improvement in gross margin.

The company's operating loss also narrowed considerably during the quarter.

EBITDA was positive ($186K) versus an adjusted EBITDA loss of $1.1M in FQ3.

"Fiscal 2013 was a year of transition for Adept, in which we embarked on a major restructuring. Our efforts have yielded initial favorable results, as we begin to stabilize and grow the business," CEO Rob Cain says. (PR)