iRobot Awarded $3 Million for PackBot EOD Robots and Services.BURLINGTON, Mass. -- iRobot Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :IRBT) has been awarded a $3 million order by the Naval Air Warfare Center The Naval Air Warfare Center was a former U.S. Navy military installation located in Warminster, Pennsylvania and Ivyland, Pennsylvania. The U.S. Navy purchased the grounds to establish this facility from the Brewster Aeronautical Corporation following its bankruptcy in the Training Systems Division to deliver iRobot PackBot(R) EOD EOD abbreviation for every other day; used in medical records. robots to U.S. forces. An initial order was placed for 22 bomb disposal robots, spare parts Spare parts, also referred to as Service Parts is a term used to indicate extra parts available and in proximity to the mechanical item, such as a automobile, boat, engine, for which they might be used. Spare parts are also called “spares. and repair services. The robots will be used to train U.S. forces in Iraq, Afghanistan and elsewhere to identify and dispose of Improvised Explosive Devices (IEDs). Under the terms of the Indefinite-Delivery/Indefinite-Quantity (IDIQ IDIQ Indefinite Delivery, Indefinite Quantity (contracting/procurement) ) contract, the military could order up to $64.3 million of robots, spare parts, training and repair services. The contract was granted by the procurement office of the Naval Air Systems Command The Naval Air Systems Command, or NAVAIR, is the part of the United States Navy which provides materiel support for naval aircraft and airborne weapon systems, such as guided missiles. NAVAIR was established in 1966 as the successor to the Navy's Bureau of Naval Weapons (BuWeps). on behalf of the Robotic Systems Joint Project Office at Redstone Arsenal Redstone Arsenal, U.S. rocket research and development center, 38,781 acres (15,694 hectares), N Ala., W of Huntsville; est. 1941. One of the state's largest industrial enterprises, it includes the Army Missile Command, responsible for the army's rocket and guided , Ala. "We view this recent investment in iRobot PackBot robots as a strong vote of confidence on the part of our military customer," said Vice Admiral Joe Dyer (U.S. Navy, ret.), president, iRobot Government & Industrial Robots. "The Robotic Systems Joint Project Office is committed to rapidly deploying life-saving technology to the battlefield and we are glad to be able to support its mission." To date, iRobot has delivered more than 500 PackBot robots to a broad range of military and civilian customers worldwide. The robots have performed tens of thousands of missions in Iraq and Afghanistan and are credited with saving soldiers' lives. About iRobot Corp. iRobot is a provider of robots that perform dull, dirty or dangerous missions in a better way. The company's proprietary technology, iRobot AWARE Robot Intelligence Systems, incorporates advanced concepts in navigation, mobility, manipulation and artificial intelligence. This proprietary system enables iRobot to build behavior-based robots, including its family of consumer and military robots. For additional information about iRobot, please visit www.irobot.com. For iRobot Investors Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. This press release contains express or implied forward-looking statements relating to, among other things, iRobot Corporation's expectations concerning estimates of future revenues, its business outlook and business momentum. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things: our dependence on the U.S. federal government and government contracts; and changes in government policies or spending priorities. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. iRobot Corporation undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by iRobot Corporation, see the disclosure contained in our public filings with the Securities and Exchange Commission including, without limitation, our most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . |
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