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PPT VISION, Inc. Announces Product Distribution Alliance with Power/mation
Datalogic USA, Inc. Posted 02/18/2003
MINNEAPOLIS, February 18, 2003 -- PPT VISION, Inc. (Nasdaq: PPTV) today announced that Power/mation, the largest distributor of industrial automation and controls products in the upper Midwest, will be the exclusive distributor for PPT’s 2D machine vision systems in the upper Midwest region.
While encompassing PPT’s entire 2D product line, the alliance with Power/mation is focused primarily on PPT’s new IMPACTTM Machine Vision Micro-System. IMPACT has all the power and flexibility of high-end vision systems at a price-point similar to vision sensors and smart cameras. This system is well suited to the general purpose industrial market and is complementary to the existing automation and controls products offered by Power/mation.
“We are excited about being selected as the exclusive distributor for PPT as it enables us to expand our product offerings and better address the growing demand for a powerful, cost-effective machine vision inspection system that can be integrated into our customers’ automation requirements,” said Mr. John Pirner, Vice President of Business Development of Power/mation. “Our customers are demanding nothing less than total quality, and machine vision systems are the most cost efficient means to provide this level of quality. By creating a flexible software interface package for IMPACT called Inspection BuilderTM, PPT provides access to powerful and versatile algorithms needed by integrators and developers. They have also made the operator interface panels simple to create and easy to use. Operators can customize screens with point and click simplicity and view and operate multiple cameras on one screen. PPT’s 20 years of machine vision experience has enabled them to develop a superior product that is responsive to our customers’ needs. We expect substantial growth in the industrial machine vision market,” concluded Mr. Pirner.
“Our alliance with Power/mation is a strong validation of the power, flexibility and broad application of IMPACT and its associated Inspection Builder software,” said Rick Hinze, PPT’s Director of North American Sales. “Through their large sales staff and integrator network, Power/mation will provide PPT with significantly enhanced sales opportunities with many new customers.”
Founded in 1961, Power/mation is a leading distributor of sensors, logic controls, intelligent motion control, power transmission, safety products, and vision technology. Power/mation distribution coverage includes industrial manufacturers in Minnesota, Wisconsin, North and South Dakota, Iowa, and parts of Illinois, Nebraska and Michigan. Power/mation is a founding member of the Association of High Tech Distributors, and is committed to providing innovative automation solutions with exceptional customer service.
About PPT VISION
PPT VISION, Inc. designs, manufactures, markets, and integrates 2D and 3D machine vision-based automated inspection systems for manufacturing applications. Machine vision-based inspection systems enable manufacturers to realize significant economic paybacks by increasing the quality of manufactured parts and improving the productivity of manufacturing processes. The Company’s 2D machine vision product line is sold on a global basis to end-users, system integrators, and original equipment manufacturers (OEM’s) primarily in the electronic and semiconductor component, automotive, medical device, and packaged goods industries. The Company’s SpeedScan 3DTM sensor, incorporating the Company’s patented high-speed Scanning Moiré InterferometryTM technology is sold to original equipment manufacturers for specific applications. The Company’s PPT861TM 3D scanning system, which uses the Company’s SpeedScan 3D sensor, is an application-specific inspection solution targeted at inspection of leaded and bumped components in the semiconductor back-end manufacturing process, inspection of surface-mount electronic connectors, and inspection of components used in hard disk drives. The Company's Common Stock trades on the Nasdaq Small Cap Market tier of The Nasdaq Stock Market under the symbol PPTV. For more information, please see the PPT VISION, Inc. web site at www.pptvision.com.
Forward Looking Statements
The discussion above contains forward?looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the Company’s expectations, beliefs, intentions and strategies regarding the future. Forward-looking statements include, without limitation, statements regarding the extent and timing of future revenues and expenses and customer demand. All forward-looking statements included in this document are based on information available to the Company as of the date hereof, and the Company assumes no obligation to update any such forward-looking statements.
The Company’s actual results are subject to risks and uncertainties and could differ materially from those discussed in the forward-looking statements. These statements are based upon the Company’s expectations regarding a number of factors, including the Company’s ability to obtain additional working capital if necessary to support its operations, changes in worldwide general economic conditions, cyclicality of capital spending by customers, the Company’s ability to keep pace with technological developments and evolving industry standards, worldwide competition, and the Company’s ability to protect its existing intellectual property from challenges from third parties. A detailed description of the factors that could cause future results to materially differ from the Company’s recent results or those projected in the forward-looking statements are contained in the section entitled “Description of Business” under the caption “Important Factors Regarding Forward-Looking Statements” contained in its filing with the Securities and Exchange Commission on Form 10-KSB for the year ended October 31, 2002 and other reports filed with the Securities and Exchange Commission.
For more information contact:
Timothy C. Clayton
Chief Financial Officer