iRobot's Home Robots business had a great year, but its Defense and Security business showed significant revenue decreases and brought down total company revenue and profit for 2012.
Home Robots revenue in full-year 2012 was $356,805,000, up 28% from $278,551,000 in 2011. Of that total, domestic U.S. Home Robots revenue was $117,689,000, up 40% from $82,787,000 in 2011. International Home Robots revenue in 2012 was $239,116,000, up 22% from 2011's $195,764,000.
iRobot's Defense & Security robots business declined sharply. Revenues in 2012 were $79.4 million, down from $186.9 million in the previous year. Just 289 Defense & Security robots were shipped in 2012, down from 773 in 2011. The gross selling price of Defense & Security robots was also down, from $136,000 in 2011 to $84,000 in 2012.
"Our business performance over the next few years will be driven by our rapidly growing home technology business," said Colin Angle, chairman and CEO of iRobot. "Home Robots is expected to grow roughly 20% this year and comprise 90% of total company revenue.
Angle said the company has an emerging remote presence business and has "stabilized" its defense business.
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