Perceptron Announces Global Alliance with Coherix for Bead Inspection

Partnership to leverage strengths of two leading vision manufacturers

PLYMOUTH, Mich., November 21, 2019 — Perceptron, Inc. (NASDAQ:PRCP), a leading global provider of 3D Vision for robot guidance, automated metrology solutions, and coordinate measuring machines, today announced a new commercial partnership with Coherix Inc. Headquartered in neighboring Ann Arbor, Michigan, Coherix develops and manufactures high speed, high definition 3D machine vision solutions for semiconductor, electronics, and automotive applications.

Coherix is well positioned to take advantage of automotive manufacturers’ transformation from vehicle welding to the use of highly engineered glues called structural adhesives. The shift to adhesives allows for light-weighting and higher structural integrity when joining parts made from dissimilar structural materials, resulting in increased rigidity that delivers significantly improved safety and drivability. Dozens of adhesive dispensing systems are deployed in each premium vehicle manufacturing line and adhesives are increasingly relied on in all new vehicle programs to deliver similar advantages.

These advantages, including safety, quality, and cost savings goals, are driving the adoption of 3D inspection and process controls across automotive OEMs and Tier suppliers. Coherix’s Predator3D™ laser-based solution is installed directly on adhesive dispensing nozzles to provide real-time 3D inspection, visualization, and process control for the adhesive and sealant dispensing process, while ensuring the right volume of adhesive is placed in the right location.

“The commercial alliance with Coherix leverages the global reach of Perceptron to accelerate the adoption of this unique 3D product, while complementing our product portfolio for robot guidance and in-line automated metrology,” said Perceptron’s Chairman of the Board Jay Freeland, who is also serving as Interim President and Chief Executive Officer. “Dwight Carlson will be a great partner and asset for our team, as he has a storied history and great familiarity with our company, serving as founder, CEO and President of Perceptron from 1981 to 1996.”

“We are delighted to launch this global commercial alliance with Perceptron,” added Dwight Carlson, founder, Chairman and CEO of Coherix. “Perceptron has a great reputation and brand recognition with all our current and prospective global automotive customers. The combination of 3D Machine Vision expertise across both companies, with many team members boasting over 30 years of industry experience, brings significantly higher value to our customers.”

About Perceptron

Perceptron (NASDAQ:PRCP) develops, produces and sells a comprehensive range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and 3D scanning. Products include 3D machine vision solutions, robot guidance, coordinate measuring machines, laser scanning and advanced analysis software. Global automotive, aerospace and other manufacturing companies rely on Perceptron’s metrology solutions to assist in managing their complex manufacturing processes to improve quality, shorten product launch times and reduce costs. Headquartered in Plymouth, Michigan, USA, Perceptron has subsidiary operations in Brazil, China, Czech Republic, France, Germany, India, Italy, Japan, Slovakia, Spain and the United Kingdom.  For more information, please visit www.perceptron.com.

About Coherix

Coherix, Inc. develops and manufactures 3D vision – Eyes for Robots – that enable customers to manage manufacturing processes. Coherix produces the highest performance solutions which also have the lowest Total Cost of Ownership. Our customers are in the automotive, semiconductor, and electronics industries. Coherix customers are large global end-users, line builders, dispensing equipment companies, and vision integrators.  These customers demand 100 percent reliability.  Headquartered in Ann Arbor, Michigan, the company has operations in the United States, China, Germany, Singapore, and Japan.

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 Company’s expectation relating to the ability to successfully develop and introduce new products and expand into new customers and markets.  When we use words such as “target,” “will,” “should,” “could,” “believes,” “expects,” “anticipates,” “estimates,” “prospects,” “outlook,” “guidance” or similar expressions, we are making forward-looking statements.  We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements. While we believe that our forward- looking statements are reasonable, you should not place undue reliance on any such forward-looking statements, which speak only as of the date made. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could be materially different. Factors that might cause such a difference include, without limitation, the risks and uncertainties discussed from time to time in our periodic reports filed with the Securities and Exchange Commission, including those listed in “Item 1A – Risk Factors” of our Annual Report on Form 10-K for fiscal 2019 and of our Quarterly Reports on Form 10-Q.  Except as required by applicable law, we do not undertake, and expressly disclaim, any obligation to publicly update or alter our statements whether as a result of new information, events or circumstances occurring after the date of this report or otherwise.

Perceptron Chairman Jay Freeland Named Interim CEO

PLYMOUTH, Mich., Nov. 12, 2019 — Perceptron, Inc. (NASDAQ: PRCP), a leading global provider of 3D automated metrology solutions and coordinate measuring machines, today announced that the Company’s Chairman of the Board, Jay Freeland, will also become Interim President and Chief Executive Officer effective immediately, following the resignation of David Watza as a director and officer of the Company.  The search for a permanent CEO has already been initiated, under the Board’s guidance and direction.

“I’m excited to work with Perceptron’s Board to maximize the value of this Company for our shareholders,” Mr. Freeland stated.  “The strength of Perceptron’s core technology, its new products and its talented employees is not reflected in the current share price.  I have a number of ideas around our strategic direction and the best path forward, and will explore all of our options vigorously.”

“Following discussions with the Board and the management team over the course of this year, I believe that in the near-term, a thorough evaluation of our cost and organizational structure should drive improved margins and enable greater productivity,” Mr. Freeland added.  “Moreover, as we look for the optimal go-to-market strategy, we will also consider our product and business mix to ensure we are only pursuing the highest return products and business lines.

“The Board is encouraged by the Company’s growth potential, yet we also recognize that the global automotive market is changing rapidly and uncertainty is increasing.  In order to anticipate and benefit from this change, the Board will take a critical eye to various strategic options, including potential divestitures and strategic business partnerships.  I expect to weigh our organic growth prospects against the benefits of larger partnerships and other alternatives.”

Mr. Freeland joined Perceptron’s Board of Directors in December of 2018 and became Chairman in May of 2019.  Prior to joining Perceptron, he served as President and CEO of FARO Technologies, Inc. (NASDAQ: FARO) for approximately ten years, before retiring in December of 2015.  He also served in a variety of executive capacities at General Electric for almost twelve years before that.

“Perceptron is an excellent company with highly motivated and skilled professionals,” Mr. Freeland concluded.  “We have great technology that offers significant value to our customers.  Along with Perceptron’s senior leadership team, I will look to make informed decisions and drive substantial value creation.  I look forward to updating our shareholders throughout the year on our progress.”

Quarterly Investor Call and Webcast

As a reminder, Perceptron, Inc., will hold its first quarter fiscal 2020 investor conference call/webcast, chaired by Jay Freeland, Chairman and Interim CEO, on November 12, 2019, at 8:30 AM (EDT). Investors can access the call at:

Webcast
investors.perceptron.com on the Event page
Conference Call
833-535-2207 (domestic callers) or 412-317-5405 (international callers)
Conference ID
10136469

A replay will be posted to the Company’s website after the conference call concludes.

About Perceptron®
Perceptron (NASDAQ: PRCP) develops, produces and sells a comprehensive range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and 3D scanning. Products include 3D machine vision solutions, robot guidance, coordinate measuring machines, laser scanning and advanced analysis software. Global automotive, aerospace and other manufacturing companies rely on Perceptron’s metrology solutions to assist in managing their complex manufacturing processes to improve quality, shorten product launch times and reduce costs. Headquartered in Plymouth, Michigan, USA, Perceptron has subsidiary operations in Brazil, China, Czech Republic, France, Germany, India, Italy, Japan, Slovakia, Spain and the United Kingdom.  For more information, please visit www.perceptron.com.

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 our expectation as to our fiscal year 2020 and future results, operating data, new order bookings, revenue, expenses, net income and backlog levels, trends affecting our future revenue levels, the rate of new orders, the timing of revenue and net income increases from new products which we have recently released or have not yet released, the timing of the introduction of new products and our ability to fund our fiscal year 2020 and future cash flow requirements.  Whenever possible, we have identified these forward-looking statements by words such as “target,” “will,” “should,” “could,” “believes,” “expects,” “anticipates,” “estimates,” “prospects,” “outlook,” “guidance” or similar expressions.  We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements.  While we believe that our forward-looking statements are reasonable, you should not place undue reliance on any such forward-looking statements, which speak only as of the date made.  Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could be materially different.  Factors that might cause such a difference include, without limitation, the risks and uncertainties discussed from time to time in our periodic reports filed with the Securities and Exchange Commission, including those listed in “Item 1A: Risk Factors” of our Annual Report on Form 10-K for fiscal 2019.  Except as required by applicable law, we do not undertake, and expressly disclaim, any obligation to publicly update or alter our statements whether as a result of new information, events or circumstances occurring after the date of this report or otherwise.

Perceptron Named 2020 Automotive News PACE Award Finalist for AccuSite Optical Tracking Technology

AccuSite Optical Tracking Enables CMM Level Accuracy for Plant Floor Metrology

PLYMOUTH, Mich., Oct. 31, 2019 — Perceptron, Inc. (NASDAQ:PRCP), a leading global provider of 3D automated metrology solutions and coordinate measuring machines, today announced its AccuSite® Optical Tracking technology is a finalist for the Automotive News PACE Awards. Conducting the PACE Awards for 26 years, Automotive News recognizes suppliers for their advancement of automotive technologies and processes with proven success in the market.

“We are excited to once again be recognized by the Automotive News judging committee as a finalist,” said Dave Watza, CEO for Perceptron. “This finalist nomination validates Perceptron’s ability to continuously improve, develop and deliver innovative, market-driven solutions to help our customers find and solve problems on the plant floor. Many of our customers were able to see our AccuSite product in action on several demonstration systems during our customer open house this past week. Our successful launch of AccuSite to the global manufacturing market provides the first ‘zero-compromise’ plant floor robotic measurement solution.”

Perceptron has combined almost 40 years of metrology, customer input and manufacturing experience to create a truly absolute robotic measurement solution. As the Helix®evo sensor scans various features on the part within the manufacturing line, the AccuSite tracker instantly locates the sensor’s exact position and orientation in space. The AccuSite option eliminates all mechanical drift and temperature influence from the measurement results, without markers or other part preparation and within measurement cycle time.

Perceptron is one of 28 automotive supplier finalists and winners that will be announced on March 23, 2020, in Detroit. Additional information about Automotive News PACE Awards program is available at paceaward.com.

About Perceptron
Perceptron (NASDAQ:PRCP) develops, produces and sells a comprehensive range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and 3D scanning. Products include 3D machine vision solutions, robot guidance, coordinate measuring machines, laser scanning and advanced analysis software. Global automotive, aerospace and other manufacturing companies rely on Perceptron’s metrology solutions to assist in managing their complex manufacturing processes to improve quality, shorten product launch times and reduce costs. Headquartered in Plymouth, Michigan, USA, Perceptron has subsidiary operations in Brazil, China, Czech Republic, France, Germany, India, Italy, Japan, Slovakia, Spain and the United Kingdom. For more information, please visit www.perceptron.com.

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 Company’s expectation relating to the ability to successfully develop and introduce new products and expand into new customers and markets. When we use words such as “target,” “will,” “should,” “could,” “believes,” “expects,” “anticipates,” “estimates,” “prospects,” “outlook,” “guidance” or similar expressions, we are making forward-looking statements. We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements. While we believe that our forward- looking statements are reasonable, you should not place undue reliance on any such forward-looking statements, which speak only as of the date made. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could be materially different. Factors that might cause such a difference include, without limitation, the risks and uncertainties discussed from time to time in our periodic reports filed with the Securities and Exchange Commission, including those listed in “Item 1A – Risk Factors” of our Annual Report on Form 10-K for fiscal 2019 and of our Quarterly Reports on Form 10-Q. Except as required by applicable law, we do not undertake, and expressly disclaim, any obligation to publicly update or alter our statements whether as a result of new information, events or circumstances occurring after the date of this report or otherwise.

Perceptron Receives Order for Seven In-Line Automated Metrology Systems

Prominent Automotive OEM Selects Perceptron for 100% Measurement on their Plant Floor

PLYMOUTH, Mich., October 24, 2019 — Perceptron, Inc. (NASDAQ:PRCP), a leading global provider of 3D automated metrology solutions and coordinate measuring machines, today announced a prominent automotive OEM selected Perceptron as their in-line measurement supplier for their next major car program.

“We have worked closely to form a collaborative partnership with this manufacturer and have more than 20 years of experience measuring their vehicles in-line,” said Rick Van Valkenburg, Vice President Global Sales and Marketing for Perceptron. “Our product development prioritizes functionality that helps solve manufacturing challenges on the plant floor where they happen. Perceptron solutions feature a full data analytics package for root cause analysis of process and product problems, as well as corporate level reporting highlighting where plant management should focus their attention. The combination of our experience, product capability, and local support team created the differentiation needed to win this project.”

The project includes Perceptron’s integration of seven in-line systems measuring the frame, underbody, and motor compartment on six unique vehicle models. These innovative systems utilize robot mounted Helix®evo sensors to scan a variety of features, including threaded studs, rivets, and hybrid holes without part preparation, like powders, sprays, or inserts. All measurement results are analyzed in real-time using Perceptron’s built-in, reporting and data visualization package.

“This large order is a testament to the continual high standard Perceptron sets for accurate, non-contact metrology and automated manufacturing,” added Van Valkenburg.  “We continue to develop breakthrough product innovations through a strategic commitment to these initiatives as well as years of plant floor metrology experience.”

All systems are currently being designed with installation scheduled for Winter 2019.

About Perceptron

Perceptron (NASDAQ:PRCP) develops, produces and sells a comprehensive range of automated industrial metrology products and solutions to manufacturing organizations for dimensional gauging, dimensional inspection and 3D scanning. Products include 3D machine vision solutions, robot guidance, coordinate measuring machines, laser scanning and advanced analysis software. Global automotive, aerospace and other manufacturing companies rely on Perceptron’s metrology solutions to assist in managing their complex manufacturing processes to improve quality, shorten product launch times and reduce costs. Headquartered in Plymouth, Michigan, USA, Perceptron has subsidiary operations in Brazil, China, Czech Republic, France, Germany, India, Italy, Japan, Slovakia, Spain and the United Kingdom.  For more information, please visit www.perceptron.com.

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 Company’s expectation relating to the ability to successfully develop and introduce new products and expand into new customers and markets.  When we use words such as “target,” “will,” “should,” “could,” “believes,” “expects,” “anticipates,” “estimates,” “prospects,” “outlook,” “guidance” or similar expressions, we are making forward-looking statements.  We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements. While we believe that our forward- looking statements are reasonable, you should not place undue reliance on any such forward-looking statements, which speak only as of the date made. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond our control or are subject to change, actual results could be materially different. Factors that might cause such a difference include, without limitation, the risks and uncertainties discussed from time to time in our periodic reports filed with the Securities and Exchange Commission, including those listed in “Item 1A – Risk Factors” of our Annual Report on Form 10-K for fiscal 2019 and of our Quarterly Reports on Form 10-Q.  Except as required by applicable law, we do not undertake, and expressly disclaim, any obligation to publicly update or alter our statements whether as a result of new information, events or circumstances occurring after the date of this report or otherwise.