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iRobot Reports 4Q Revenue Loss
Feb 20, 2009
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For the fiscal year ended Dec. 27, 2008, iRobot Corp. reported that revenue fell 8.1% to US$90.7 million, compared with $98.7 million for the same quarter one year ago. Revenue for the full year increased 23.5% to $307.6 million from $249.1 million for the full year 2007. Net income in 4Q 2008 was $5.4 million compared with $20.7 million in 4Q 2007.

"2009 will continue to present challenges for domestic home robot sales but aggressive management of the company’s and our retailers’ inventory in the fourth quarter of 2008 has positioned us well in the current environment," said Colin Angle, chairman and CEO of iRobot. "We expect international demand for home robots to continue to be strong. Growth in our Government & Industrial division will be fueled by sales of PackBot FasTac in the beginning of the year and by the sale of new products later in the year."

Despite the overall revenue loss, the company said its international home robot revenue in 4Q 2008 was more than double the level of 4Q 2007 and comprised almost half of total home robot revenue in the quarter. Overall home robot revenue grew 20% for the full year.

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