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Wednesday, February 06, 2013

iRobot: Fourth-Quarter and Full-Year Financial Results

iRobot Corp. (NASDAQ: IRBT), a leader in delivering robotic technology-based solutions, today announced its financial results for the fourth quarter and full year ended December 29, 2012.
Full-year domestic Home Robot revenue growth of more than 40 percent, coupled with international revenue growth of 22 percent, drove a 28 percent year-over-year increase in full-year Home Robot revenue. International Home Robot revenue of $239 million comprised 67 percent of total Home Robot 2012 revenue.But the decline in Defense & Security revenue resulted in revenue for the full year 2012 of $436.2 million, compared with $465.5 million for the full year. 
Net income for the full year 2012 was $17.3 million, compared with $40.2 million for the same period in 2011.
  • Revenue for the fourth quarter of 2012 was $100.7 million, compared with $130.8 million for the same quarter one year ago. Revenue .
  • Net loss in the fourth quarter of 2012 was $5.9 million, compared with net income of $10.6 million in the fourth quarter of 2011. 
  • Quarterly loss per share was ($0.21), compared with earnings per share of $0.38 in the fourth quarter last year. Full-year earnings per share were $0.61, compared with $1.44 last year. The Q4 and full year results include the negative impact of $0.22 and $0.27, respectively, from restructuring the Defense & Security business and the inclusion of Evolution Robotics, acquired on October 1, 2012.
  • Adjusted EBITDA for the fourth quarter of 2012 was $1.0 million, compared with $21.3 million in the fourth quarter of 2011. Adjusted EBITDA for the full year 2012 was $52.5 million, compared with $73.0 million for the same period a year ago.
CEO Colin Angel expects the home robot business to grow roughly 20% this year and comprise 90% of total company revenue. 

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