iRobot Boosts Net by 36 Percent in Fourth Quarter
Posted on February 14, 2011 by
BEDFORD, Mass.-Fourth-quarter net income for iRobot jumped to $7 million, 36 percent more than in its fiscal fourth quarter of last year.
The company--which, among other businesses, manufactures and markets home-vacuum robots such as the Roomba--reported a gain in total revenues of 12 percent to $114 million. This included a 14 percent gain in product revenue in the quarter, which ended on Jan. 1.
Gross margin in the quarter rose 204 basis points to 39.9 percent. Total operating expenses increased 47 percent in dollars and 792 basis points as a percentage of sales, to 33.3 percent. However, iRobot's bottom line was helped by an 80 percent drop in income-tax expense.
For the full fiscal year, iRobot's net income skyrocketed by 667 percent to $25.5 million. Total revenue rose 34 percent to $401 million.