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iRobot First-Quarter Financial Results Exceed Expectations
Apr 25, 2014
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iRobot Corp., maker of robotic home appliances, reported revenue of $114.2 million in the first quarter of 2014, up from $106.2 million in the first quarter of 2013. Net income was $5.3 million, from $8.4 million in 1Q 2013. iRobot's first quarter ended March 29, 2014.

"The results and outlook for our Home Robot business are excellent," said iRobot Chairman and CEO Colin Angle. The Defense & Security business segment of the company performed "as expected," he added.

iRobot said its Home Robot business delivered excellent growth on an ever-increasing base. Revenue growth in this business, in all three geographic regions, contributed to year-over-year growth of 17% for 1Q 2014 over 1Q 2013.

The Home Robot business launched its Roomba 880 in limited domestic United States retailers and select European and Asian markets. The Scooba 450 floor scrubbing robot was launched on the company website in January.

The Home Robots business had 1Q 2014 revenue of $108.0 million, up from $92.7 million in 1Q 2013. Domestic Home Robots revenue in 1Q 2014 was $41.0 million, up from $31.4 million in 1Q 2013. International Home Robots revenue was $67.0 million, up from $61.3.

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