Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

iRobot: A Strong Year for Home Robots
Oct 26, 2012
 Printable format
 Email this Article
 Search

iRobot's Home Robot business segment is having a good year in 2012. The company's Defense & Security Robots business segment, however, is facing decreasing 2012 revenues, which prompted the company to restructure the D&S business.

Overall, iRobot Corp. (Bedford, MA, U.S.) reported third quarter 2012 revenue was $126.3 million, up from $120.4 million in the third quarter of 2011. Third quarter 2012 (ending Sept. 29, 2012) net income was $15.2 million, from $14.1 million in 3Q 2011.

Revenue in the first nine months of 2012 was $335.6 million, from $334.7 million in the first nine months of 2011. Net income was $23.2 million, from $29.6 million in the first nine of 2011.

Home Robot revenue was up 33% in 3Q 2012, driven by strong growth in U.S. and international markets. Home Robot product returns improved, a result of sustained investment in product quality.

Colin Angle, iRobot chairman and CEO, noted that the company made several strategic decisions to strengthen the company in the third quarter of 2012, including the acquisition of Evolution Robotics (ER) for $74 million. ER makes the Mint automatic floor cleaning robot, designed exclusively for hard surface floors. The product is intended to complement iRobot's Roomba line of vacuum cleaner robots.

At the same time, Angle said, "The 2012 outlook for D&S has deteriorated and we expect further declines in 2013. To right-size the business we have restructured D&S and taken costs out."

Angle added: "We are taking these actions in order to invest in our high growth Home Robot business as well as our emerging high potential remote presence business, while meeting our commitment to profitable growth."

Back to Daily News

 

Daily News

...........................................................

Apr 17, 2014: Remodeling Growth Expected to Continue

Apr 17, 2014: HVAC/R Contractors Outlook Holds Steady

Apr 17, 2014: Appliance Store Sales Down Slightly in March

Apr 17, 2014: Briggs & Stratton Automatic Choking Technology Moves to Riding Mowers

Apr 16, 2014: Home Builder Confidence Steady in April

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

March 2014: Market Research - 62nd Annual U.S. Appliance Industry Forecast
February 2014: Appliance Magazine Market Insight: December 2013
January 2014: Market Research - Appliance Historical Statistical Review: 1954-2012
January 2014: Appliance Magazine Market Insight: November 2013




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Pharmalive | Plastics Today | Powder Bulk Solids | Canon Trade Shows