The steadily increasing sales and global reach of iRobot’s Home Robot business enables the company to “substantially offset the continuing impact of U.S. government funding on our Defense & Security business” Colin Angle, chairman and chief executive officer of iRobot said, adding this civil/military balance enables his company to remain on track to meet its revenue and increase profit expectations for fiscal year 2012.
He said the company has been awarded recently three new contracts totaling approximately $27 million for SUGV and PackBot robots, spares and software upgrades. However, U.S. government funding and program delays, continue to negatively impact the company’s Defense & Security business unit. “We have reflected that impact in our lower full-year expectations for this business unit” Colin added.
iRobot reported today its revenue for the second quarter of 2012 was $111.4 million, compared with $108.1 million for the same quarter one year ago. Net income in this period was $7.4 million, compared with $8.0 million a year ago.