iRobot Reports Q1 Revenue More Than Doubled May 3, 2006

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Floor care maker iRobot Corp. announced its financial results for the first fiscal quarter ended April 1, 2006.

Revenues for the first quarter of 2006 grew 123 percent to U.S. $38.2 million, compared with $17.1 million for the same quarter 1 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 the first quarter of fiscal 2006 compared to the first quarter 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's first-quarter revenue performance demonstrates the growing demand for our robots, both in consumer and government markets," said Colin Angle, co-founder and CEO, iRobot. "While we continue to invest in our business and expand into global markets, our focus will remain on quickly delivering practical and affordable robots."

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