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Perceptron announced the appointment of Mr. Anders Hoberg as the new CEO, aimed at enhancing the company’s market reach and integrating with Atlas Copco’s culture following its acquisition in December 2020. Hoberg emphasized a commitment to support and grow Perceptron while retaining its entrepreneurial spirit. The company is currently hiring in various sectors, including Software Development and Technical Support Engineers, with job opportunities listed on their website. Perceptron employs around 300 people globally, with 100 based in Plymouth, Michigan.
Perceptron, Inc. (NASDAQ: PRCP) has successfully closed its merger with Atlas Copco, a leading provider of sustainable productivity solutions. Shareholders will receive $7.00 per share in cash, leading to the delisting of Perceptron's common stock from Nasdaq. The merger aims to enhance value for shareholders, expand product offerings for customers, and provide growth opportunities for employees. XMS Capital Partners acted as financial advisor for Perceptron on this transaction.
Perceptron, Inc. (NASDAQ: PRCP) announced that its shareholders approved a merger with Atlas Copco on December 8, 2020. Under the agreement, shareholders will receive $7.00 per share in cash. The transaction is expected to complete in the fourth quarter of 2020, pending customary conditions, including regulatory approval from CFIUS. Post-merger, Perceptron's stock will be delisted from Nasdaq. This merger marks a significant step for Perceptron, a provider of automated metrology solutions, aiming to enhance market position and operational efficiency.
Perceptron, Inc. (NASDAQ: PRCP) reported fiscal Q1 2021 results with net sales of $13.9 million, down from $17.9 million in the previous year. The company faced an operating loss of $(0.7) million and adjusted EBITDA of $(0.2) million. Total bookings decreased 15% year-over-year to $14.6 million, while backlog declined 2% to $37.0 million. The decline in sales was attributed to COVID-19 impacts, with significant drops in the Americas (42%) and Asia (19%). Cash and equivalents stood at $12.9 million.
Perceptron (NASDAQ: PRCP) announced the release of its fiscal fourth quarter and full-year 2020 results, scheduled for September 28, 2020, before market opening. A conference call will be held that same day at 8:30 AM ET to discuss the financial outcomes and recent developments. Interested parties can listen to the live webcast on the investor relations section of Perceptron’s website. The company specializes in 3D automated metrology solutions and provides essential tools to improve manufacturing processes across various industries.
Perceptron, Inc. (NASDAQ: PRCP) has secured a significant contract with a global Tier-1 automotive supplier for its innovative in-line measurement technology, aimed at measuring components for an upcoming electric vehicle launch. John Kearney, VP at Perceptron, highlighted this as their first major order with this supplier, which operates over 100 facilities globally. The project is currently in the design phase, with installations planned for August 2020. This order reflects growing interest in Perceptron's technology as OEMs look to enhance production efficiency.
Perceptron, Inc. (PRCP), reported a Q3 2020 net sales of $12.7 million, down from $15.6 million year-over-year. The company faced a net loss of $(3.9) million, reflecting a significant impact from COVID-19. Total bookings decreased by 17% to $10.9 million. Despite a cash position of $10.6 million and securing $2.5 million under the Paycheck Protection Program, the company withdrew its financial guidance due to ongoing uncertainty. Production has resumed, but lower customer activity and delayed orders continue to challenge the business.
Perceptron (NASDAQ: PRCP) will release its fiscal Q3 2020 results on June 1, 2020, after market close. A conference call to discuss these results is scheduled for June 2, 2020, at 8:30 AM ET. Investors can access the call via the company's Investor Relations website. The call will cover financial outcomes, recent events, and include a Q&A session. Perceptron specializes in 3D automated metrology solutions, assisting the manufacturing sector in improving quality and reducing costs.
Perceptron (NASDAQ: PRCP) announced a delay in filing its Form 10-Q and fiscal Q3 results due to COVID-19 operational disruptions, now expected in early June 2020. The company has faced limited operations at facilities following government mandates but anticipates a gradual reopening. Perceptron believes it has sufficient inventory and cash, aided by a $2.5 million loan under the SBA’s Paycheck Protection Program and improved receivable collections. A full update will be provided during the upcoming earnings call.
