iRobot Net Climbs 52 Percent in Fourth Quarter
February 10, 2012,
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.
Looking ahead to this fiscal year, Colin Angle, iRobot's chairman and CEO, said he expected the strength shown by home robots to continue.
Other Articles By Author
Adriana Hoyos Relaunches Brand at High Point Market
HFN's DIGITAL EDITION
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.