Robot Reviews

Results of iRobot Corp's 2009 fourth quarter and full fiscal year performance may now serve as a powerful springboard for the robot company.

After announcing that iRobot just delivered its 3,000th PackBot the day before, Bedford MA's robot makers followed it up with an another one last Feb 17, 2010 that should keep its investors grinning the next few weeks. The fourth quarter revenue and full year revenue of 2009 was reported to be about $100 million and $300 million respectively.

That translates to a 12.1% increase in 4th quarter revenue compared to the previous year although the full year revenue showed a 2.9% drop. 

These results prompted iRobot CEO and Chairman Colin Angle to remark, "We delivered record quarterly revenue of more than $100 million in the fourth quarter and full-year revenue of nearly $300 million. Earnings per share and Adjusted EBITDA significantly exceeded expectations for the fourth quarter and full year", adding later that, "We began 2010 with $42 million in backlog in our G&I business, the highest level in our company's history. This positions us well to deliver another year of solid financial performance, with significant top- and bottom-line growth, while continuing to invest in the future of our business."

iRobot has already started growing significantly overseas. While many Americans have already adopted their own iRobot Roombas, buyers from other countries have also started to show a growing interest in these robots and their cousins. 

This is noticeable from the 35.2% increase in international home robot revenue compared to 2008. In fact, more than 50% of the total home robot revenue of 2009 came from international buyers.

Aside from their home robots, iRobot has also been showing great success in their G&I (Government and Industrial) division. 

The 3,000th delivered PackBot certainly reflects the contribution of the US government to iRobot's success. As a matter of fact, G&I  robots 4th quarter revenue rose by about 10.7% compared to last year. As you may have gathered earlier, a record $42 million backlog has been accumulated in this product line. 

The complete press release can be found at the iRobot website.