iRobot Floor Care Robot Sales Up in U.S., Worldwide
Aug 1, 2011
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iRobot Corp. (Bedford, MA, U.S.), maker of home appliance and military robots, saw second quarter 2011 revenues increase 11% to $108.1 million, compared to $97.8 million for the same quarter a year ago. Overall company revenue for the first half of 2011 increased 11% to $214.4 million from $192.7 million last year. iRobot's best known home appliance is the Roomba floor care robot.
Chairman and CEO Colin Angle said 2Q results from both divisions – military and home robots – exceeded expectations and "Reflect a positive trend in domestic consumer spending for our home robot products."
iRobot saw strong home robot demand in domestic and overseas markets, for a 21% year-over-year increase in second-quarter home robot revenue. 2Q domestic (U.S.) home robot revenue grew 30% while international home robot revenue grew 16%, comprising 65% of the company's home robot revenue.
In its second quarter, ended July 2, 2011, iRobot's overall net income was $8.0 million, up from $5.3 million in 2Q 2010. First half 2011 net income was $15.5 million, up from $11.5 million in the first half of 2010.
With expected continued profitable growth, the company increased its full-year 2011 expectations. It now expects revenue for 2011 to be $460-$470 million, up from its earlier expectation of $450 - $465 million.
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