Wednesday, May 03, 2006

iRobot Corporation Financials

BURLINGTON, Mass., May 2, 2006 – iRobot Corp. (NASDAQ: IRBT) today announced its financial results for the first fiscal quarter ended April 1, 2006.

First-Quarter 2006 Highlights Include:

* Revenues for the first quarter of 2006 grew 123 percent to $38.2 million, compared with $17.1 million for the same quarter one year ago.
* Gross profit for the first quarter grew 193 percent to $12.2 million (31.9 percent of sales), compared with $4.2 million (24.3 percent of sales) in the first quarter of 2005. This growth in gross profit as a percentage of sales represents an improvement of 7.6 percentage points in Q1 of fiscal 2006 when compared to Q1 of fiscal 2005.
* Net loss in the first quarter of 2006 was $2.9 million, or $0.12 per share, compared with a net loss in the first quarter of 2005 of $4.1 million, or $0.42 per share.

iRobot is the maker of the household flooor cleaning robots Roomba and Scooba and of the military Packbot.

Their stock, which was released in an IPO in December 2005, has been hammered lately due mainly to deep discounting of the newer wet-wash robot Scooba and fears of poor sales for the units. CEO Colin Angle reported in a conference call yesterday that the price discounting was started by one particular retailer who will be cut off from future deliveries.

For a complete analysis of iRobot's quarterly results check out the blog iRobot Stock News.

iRobot Corporation: Press Release



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