Attached files
| file | filename |
|---|---|
| 8-K - PERCEPTRON INC/MI | v203683_8k.htm |
| EX-10.1 - PERCEPTRON INC/MI | v203683_ex10-1.htm |
Contact:
Jack Lowry
Vice
President of Finance and CFO
734
414-6100
Perceptron
Adopts 10b5-1 Trading Plan
Plymouth, Michigan, November 19, 2010
– Perceptron, Inc. (NASDAQ: PRCP) today announced that its Board of
Directors, as part of the Company’s previously announced stock repurchase
program, has authorized the Company to enter into a Rule 10b5-1 trading plan
(“Repurchase Plan”) with Barrington Research Associates, Inc. to purchase up to
$5.0 million of the Company’s common stock through December 31, 2011 (less the
dollar amount of purchases by the Company outside the Repurchase Plan), in open
market or privately negotiated transactions, in accordance with the requirements
of Rule 10b-18 of the Securities Exchange Act of 1934. Under the
terms of the Repurchase Plan, the Company will begin repurchasing shares on
November 22, 2010.
About
Perceptron
Perceptron,
Inc. (www.perceptron.com)
develops, produces and sells non-contact measurement and inspection solutions
for industrial and commercial applications. The Company’s IBU
Products provide solutions for manufacturing process control as well as sensor
and software technologies for non-contact measurement and inspection
applications. Automotive and manufacturing companies throughout the
world rely on Perceptron’s metrology solutions to help them manage their complex
manufacturing processes to improve quality, shorten product launch times and
reduce overall manufacturing costs. IBU also offers value added
services such as training and customer support. Perceptron’s CBU develops and
manufactures a variety of handheld visual inspection devices and add-on
accessories that are sold to and marketed through strategic
partners. Headquartered in Plymouth, Michigan, Perceptron has
approximately 225 employees worldwide, with operations in the United States,
Germany, France, Spain, Brazil, Japan, Singapore, China and India.
Safe
Harbor Statement
Certain
statements in this press release may be “forward-looking statements” within the
meaning of the Securities Exchange Act of 1934, including the impact of
repurchases of the Company’s Common Stock. The Company assumes no
obligation for updating any such forward-looking statements to reflect actual
results, changes in assumptions or changes in other factors affecting such
forward-looking statements. Actual results could differ materially
from those in the forward-looking statements due to a number of uncertainties in
addition to those set forth in the press release, including, but not limited to,
those set forth in “Item 1A – Risk Factors” of the Company’s Annual Report on
Form 10-K for fiscal 2010. The ability of the Company to develop and
introduce new products, especially in markets outside of automotive, is subject
to a number of uncertainties, including, general product demand and market
acceptance risks, the ability of the Company to resolve technical issues
inherent in the development of new products and technologies, the ability of the
Company to identify and satisfy market needs, the ability of the Company to
identify satisfactory distribution networks, the ability of the Company to
develop internally or identify externally high quality cost effective
manufacturing capabilities for the products, general product development and
commercialization difficulties, and the level of interest existing and potential
new customers may have in new products and technologies generally.
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47827
Halyard Drive • Plymouth, Michigan 48170 • Phone 734-414-6100 • Fax
734-414-4700