| Revenues
for the second quarter of 2007 grew 36 percent to $47 million.
Gross profit for the second quarter increased to $15.2 million
while gross profit for the first six months of 2007 totaled
$26.3 million (30.5 percent of sales) up from $24 million (32.9
percent of sales) in the first half of 2006.
Yet, during this period the company accumulated a net loss
of $10.3 million, over twice the loss reported during the same
period last year but slightly below the level projected in the
company's plans, as outlined earlier this year. In February
2007 iRobot stated it plans to achieve sales of $225 - $235
million for the whole year, recording loss of $11-$12 million
in the first half, but showing net pre-tax profit of $14-$15
in the second half of the year. "The current trends in
our business give us confidence that our revenues and pre-tax
earnings results are likely to exceed our previous guidance,"
said Geoff Clear, chief financial officer of iRobot. "Therefore,
for full year fiscal 2007, our new revenue guidance is $233
million to $243 million and our new pre-tax income guidance
is $3 million to $5 million."
April 25, 2007: iRobot,
the producer of the military PacBot
robot reported today its results for the first quarter of
2007. Revenues increased to $39.5 million, slightly above the
Q1 of 2006 but well below Q4/06 (which represented a record
quarter in a record year for the company). Gross profit continued
declining from 31.9% of sales in Q1/06 and 37.3% in Q4/06, to
28.2% of sales ($11.1 million) in Q1/07. Lower margins and continued
higher spending on research and development resulted in a significant
increase in net loss, from $2.9 million in Q1/06 to $5.5 million
in Q1/07.
Colin Angle, chief executive officer commented
that these results are "on plan and consistent with our
expectations". Based on the company's management visibility
for the rest of the year, particularly in the government business,
he reaffirmed with "high level of confidence" that
the company will be meeting its first-half and full-year financial
guidance".
Two major orders received during the first quarter of 2007
represent customer confidence and continued support of the company's
robots – a $14 million order from the US Naval Sea Systems
Command (NAVSEA) for 101 bomb-disposal robots and a $2.8 million
order for 22 PackBot EOD robots from the German Federal Defense
Forces.
Apart from its government sales, iRobot markets commercial
robotic systems for the home market.
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