iRobot Reports Record Third Quarter 2006 Results.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) today announced its financial results for the third fiscal quarter ended Sept. 30, 2006. Highlights: * Revenues for the third quarter of 2006 grew to $55.0 million, compared with $52.5 million for the same quarter one year ago. Revenues for the nine months ended Sept. 30, 2006 increased to $127.8 million, compared with $95.5 million for the same period a year ago. * Gross profit for the third quarter grew to $23.0 million (41.8 percent of sales), compared with $20.7 million (39.5 percent of sales) in the third quarter of 2005. * Net income in the third quarter of 2006 was $10.0 million compared with net income in the third quarter of 2005 of $9.8 million. Net income for the nine months ended Sept. 30, 2006 increased to $5.3 million, compared with $2.6 million for the same period a year ago. * iRobot expanded its line of home robots. The company introduced the iRobot Dirt Dog The iRobot Dirt Dog is a cleaning robot based on the Roomba platform which replaces the Roomba's vacuum cleaner with a series of brushes designed for cleaning up loose hardware and debris from workshop and garage floors. [TM] Workshop Robot robot or automaton (ôtäm`ətän') mechanical device designed to perform the work generally done by a human being. , designed for garages, basements and workbench zones, and the iRobot Roomba([R]) for Pets. * iRobot unveiled the pre-prototype iRobot Small Unmanned Ground Vehicle The Small Unmanned Ground Vehicle (SUGV) is a Future Combat Systems specific, manpackable (< 30lbs) version of the IRobot's PackBot. External link
Future Combat Systems Subsystems , or iRobot SUGV SUGV Small Unmanned Ground Vehicle , and the iRobot Warrior[TM] robot. The 30-pound, lightweight SUGV is being developed under iRobot's $54 million, multi-year contract with the U.S. Army's Future Combat Systems program. The Warrior is a 250-pound multi-mission platform with a ground speed of 12 mph and a heavy-lift carrying capacity carrying capacity the number of animal units that a farm or area will carry on a year round basis, including that needed for conservation of winter feed. Usually stated as dry cows or dry sheep equivalents per hectare. . "We reported record quarterly revenues and earnings, the highest in our company's history, while continuing to invest in the growth of the company," said Colin Angle Colin Angle is co-founder and chief executive officer of iRobot Corporation, maker of the Roomba robotic vacuum cleaner. External links
Financial Guidance The company improved its expectations for revenue for the full fiscal year 2006 and expects full-year revenue to be within a range of $185 million and $192 million. This compares with the previously issued full fiscal year 2006 revenue range of $182 million to $192 million. The company reaffirmed its previously issued full fiscal year 2006 pre-tax earnings guidance range of breakeven breakeven 1. The level of output or sales necessary to cover fixed expenses. Companies in industries that have high fixed costs and, consequently, high breakevens, such as automobile and steel manufacturing, are likely to exhibit large fluctuations to 2 percent of revenues, or $3.8 million. Third-Quarter Conference Call iRobot will host a conference call today at 5:30 p.m. ET to discuss its financial results for the third fiscal quarter ended Sept. 30, 2006, business outlook, and outlook for future financial performance. To access the call, investors should dial 913-981-5509 approximately 10 minutes prior to the initiation of the teleconference and reference iRobot. A live, audio broadcast of the conference call also will be available at http://investors.irobot.com/events.cfm. An archived version of the broadcast will be available on the same Web site shortly after the conclusion of the live event. A replay of the telephone conference call will be available through midnight on Nov. 1, and can be accessed by dialing 719-457-0820, access code 6822414. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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 relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc , among other things, iRobot Corp.'s expectations concerning future financial performance, investments in and expansion of its business, product development and marketing plans, and demand for and market acceptance of its products. 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 ability to operate in an emerging market, fluctuations in our operating results and the seasonality of our business, our ability to enhance our current consumer robots or develop new consumer robots, our dependence on the U.S. federal government and government contracts, our ability to expand our product offering beyond our current markets, market acceptance of our products, our ability to manage our rapid growth, changes in government policies or spending priorities. and competition. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" . iRobot Corp. 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 CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or or otherwise. For additional disclosure regarding these and other risks faced by iRobot Corp., see the disclosure contained in our public filings with the Securities and Exchange Commission. [TABLE OMITTED] [TABLE OMITTED] |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion