iRobot Reports Increased Q2 Revenue Aug 2, 2006

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Robotic floor care maker iRobot Corp. announced revenue for the second fiscal quarter ended July 1, 2006 increased 33.5 percent to U.S. $34.6 million, compared with $25.9 million in the prior-year period.

Gross profit for the second quarter grew 86.6 percent to $11.8 million (34.1 percent of sales), compared to $6.3 million (24.4 percent of sales) in the second quarter of 2005.

Net loss in the second quarter of 2006 was $1.8 million, or $0.08 per share, compared with a net loss in the second quarter of 2005 of $3.1 million, or $0.30 per share.

"iRobot reported another strong quarter, with sustained growth and product momentum throughout the first half of 2006," said Colin Angle, co-founder and CEO, iRobot. "We launched a new version of the iRobot(R) Scooba(R) Floor Washing Robot that will sell at $299. This new price point provides users the option to choose the functionality that works best for their homes."

iRobot improved its financial guidance for 2006 by increasing the lower end of the revenue and pre-tax income range. The company reported 2006 full-year revenue guidance of $182 million to $192 million and pre-tax income guidance that is expected to breakeven to a pre-tax profit of 2-percent of revenue.

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