iRobot Q2 Net Climbs as Home Robots Drive Sales

iRobot

BEDFORD, Mass.-Strong results from home robot sales throughout the world propelled iRobot to a 12.5 percent gain in second-quarter net income, to $8.3 million.

Net revenue for the quarter, which ended on June 29, jumped 17 percent, with the key drive coming from product sales, which rose 18.8 percent. iRobot reported growth in domestic revenue of 26 percent, along with growth in international markets of 18 percent.

The gains in revenue offset both a decline in gross margin and an increase in operating expenses. Gross margin was down 13 basis points to 47.3 percent. Operating expenses (totaling selling, marketing, general, administrative, research and development) increased 27.3 percent in dollars and 334 basis points as a percentage of sales, to 41.2 percent.

Colin Angle, iRobot's chairman and CEO, said the company expects full-year revenue to total between $485 million and $495 million. "Our strong second-quarter results, driven by our home robot business, give us confidence that we will achieve our full-year expectations," Angle said.

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

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 May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money