iRobot Posts Loss in Q4; Net Falls 57 Percent for Year

BEDFORD, Mass.-iRobot ended its fiscal year on Dec. 31 with a fourth-quarter net loss of $5.9 million, as opposed to net income in last year's fourth quarter of $10.6 million.

The quarter's performance brought iRobot's net income for the fiscal year to $17.3 million, down 57 percent from the prior year. The company's revenues for the quarter fell 23 percent to $100.7 million, and for the year declined 6.3 percent to $436.2 million.

The drops on both the top and bottom lines occurred in spite of a 28 percent gain in home-robot sales during the fiscal year. Colin Angle, iRobot's chairman and CEO, said the company's numbers were hurt by an anticipated decline in revenue from the defense and security sector.

Net profit also felt the effects of a gain in selling, general and administrative expenses of 22.5 percent in dollars and 1,852 basis points as a percentage of sales, to 49.9 percent. In addition, gross margin fell 182 basis points to 41.1 percent.

Angle described last year as "a transformational year for our business." He said the company's total business will be driven by the home-robot sector in the years to come, with an expected gain of 20 percent in home sales for 2013, which means that the home area will account for about 90 percent of the company's revenues. "In addition," he said, "we have an emerging remote presence business and have stabilized our defense business."

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.


  • Patti Carpenter Talks Color and its Importance in the Home

    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 August 2017 cover


    August 2017

    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.