Perceptron Receives Full Redemption of Long-Term Illiquid Investment

Perceptron, Inc. PRCP today announced that Primus Financial Products, LLC ("Primus"), redeemed the remaining outstanding shares of its Floating Rate Cumulative Preferred Stock Series I and Series II ("Preferred Stock") at the full value of $1,000 per share. Perceptron held 2,600 shares of the Preferred Stock and received $2.6 million. These securities have been held as long-term investments, and were written down to their current carrying value of approximately $1.47 million in fiscal year 2009. The redemption will result in an increase of approximately $1.0 million in net income in the fourth quarter of Perceptron's 2013 fiscal year, and represents an expected increase of approximately $0.12 in basic earnings per share. "This is excellent news for Perceptron and its shareholders," said Harry Rittenour, Perceptron's President and CEO. "As many of our shareholders know, we originally invested in Primus' Auction Rate Securities and have held this investment since 2007 when the auctions on the securities began to fail during the credit crisis. Several years ago Primus converted the Auction Rate Securities to preferred shares. We have continuously monitored Primus' financial situation since that time and elected not to sell the shares at a discount. We are very pleased that our patience and judgment have been rewarded."