iRobot Goes from Loss to Profit in Second Quarter
July 29, 2010,
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.
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.