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PPT VISION, Inc. Completes $1 Million Equity Investment
Datalogic USA, Inc. Posted 06/26/2000
MINNEAPOLIS -- PPT VISION, Inc. (Nasdaq: PPTV) announced today that Mr. Peter R. Peterson, a Director of PPT VISION, purchased 170,000 shares of PPT VISION Common Stock directly from the Company at a price of $6 per share.
"This equity investment enables PPT to maintain its current level of working capital strength in view of today's announced settlement of a patent infringement lawsuit," stated Joseph C. Christenson, President of PPT VISION, Inc.
PPT VISION, Inc. designs, manufactures, markets, and integrates machine vision-based automated inspection systems for manufacturing applications such as electronic and mechanical assembly verification, verification of printed characters, packaging integrity, surface flaw detection, and gauging and measurement tasks. 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 vision systems are sold throughout the Americas, Europe and Asia to a broad range of industry categories including manufacturers of automotive, electronic and semiconductor components, consumer goods, pharmaceuticals and plastics. The Company's Common Stock trades on the Nasdaq National Market tier of The Nasdaq Stock Market under the symbol PPTV. For more information, please see the PPT VISION, Inc. web site at http://www.pptvision.com
The discussion above contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements by their nature involve substantial risks and uncertainties as described by PPT VISION's periodic filings. Actual results may differ materially depending on a variety of factors, including, but not limited to the following: changes in worldwide general economic conditions, cyclicality of capital spending by customers, PPT VISION's ability to keep pace with technological developments and evolving industry standards, worldwide competition, and PPT VISION's ability to protect its existing intellectual property from challenges from third parties and other factors. Additional information with respect to the risks and uncertainties faced by PPT VISION may be found in the section "Business" under the caption "Important Factors Regarding Forward-Looking Statements" contained in its filing with the Securities and Exchange Commission on Form 10-K for the year ended October 31, 1999 and its Forms 10-Q for the quarters ending January 31, 2000 and April 30, 2000.