iRobot Goes from Loss to Profit in Second Quarter

BEDFORD, Mass.-Riding the wave of a significant increase in home-robot sales, iRobot posted second-quarter net income of $5.3 million, compared to a net loss of $2.6 million in the second quarter of last year.

The company said in its statement on the quarter's results that international home-robot revenues jumped by more than 80 percent in the quarter, while domestic revenue from home robots rose 20 percent. This helped boost net revenue by 59 percent to $97.8 million. Among iRobot's home-robot products is the Roomba floor-vacuuming robot.

iRobot's gross margin finished the quarter at 34.7 percent, 800 basis points ahead of the second-quarter gross margin last year. Total operating expenses increased 27 percent, but dropped 670 basis points as a percentage of total sales to 26.2 percent.

Colin Angle, iRobot's chairman and chief executive officer, said the results "significantly exceeded expectations for the quarter. Angle added that the company now expects full fiscal-year revenue to range between $385 million and $390 million, up dramatically from the $298.6 million in total revenue in fiscal 2009.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Von Tobel Cites Brass Textures Among Top Trends

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN cover for September 2017

    HFN's DIGITAL EDITION

    September 2017


    COVER STORY:

    2017 State of the Industry Report
    Cautious Optimism, Mixed Results

    Many expected 2016 would be a banner year, but the political and economic climate softened consumer confidence. It was also a year consumers spent more lavishly on home remodeling rather than decorating.


    ALSO IN THIS ISSUE:

    •  TJX Unveils First U.S. Homesense Store - In a time when retailers are reducing store counts, TJX continues to get physical.
    •   Ikea’s Fluid Spaces - The retailer’s new intros reflect multifunctional rooms.
    •  N.Y. Home Fashions Market Preview - Textile textures get soft and cozy, colors warmer.