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iRobot Net Climbs 52 Percent in Fourth Quarter

Posted on February 10, 2012 by HFN Staff

BEDFORD, Mass.-iRobot ended its fiscal year on a high note with a 52 percent jump in fourth-quarter net income, to $10.6 million.

Strong sales, especially in home robots such as the Roomba line of vacuums, and a careful watch on expenses boosted the company's results for the quarter, which ended on Dec. 31. Total revenues were up 15 percent to $130.8 million, including a 19 percent rise in product revenues. Operating expenses, while increasing 8.1 percent in dollars, fell back 192 basis points as a percentage of sales to 31.4 percent.

Fourth-quarter gross margin increased 299 basis points to 42.9 percent. For the full 2011 fiscal year, iRobot garnered a 58 percent increase in net income to $40.2 percent, and a 16 percent gain in total revenues to $465.5 million.

Looking ahead to this fiscal year, Colin Angle, iRobot's chairman and CEO, said he expected the strength shown by home robots to continue.