Robot Reviews

The long awaited figures for the third quarter for 2009 are now officially out. iRobot Chairman and Chief Executive Officer Colin Angle announced that the performance report of the robotics corporation yielded a better result than what the experts on Wall Street expected.

The corporation earned revenues amounting to $2.6 million at 10 cents per share for the 3-month period ending September 26, which is better than what analysts projected revenues would be at 2 cents per share.

As expected, the company had lower sales revenue of $78.6 million, 15 percent lower compared to its 2008 counterpart for the same period, which was pegged at $92.4 million. 

Despite this, Angle reported that this performance exceeded their expectations, with operating cash flow actually improving by $13 million for the quarter as compared to last year and has reached levels of over $25 million for the first nine months of the current year. This can be attributed to aggressive management resulting to a significant reduction of inventory as compared to the same period last year.

The 2009 third quarter revenue report also indicated a 55 percent increase in international home robot revenue for the quarter as compared to last year. On top of that, orders by the US Government from iRobot's Government and Industrial Robots divisions amounted to $55 million, which made Angle quite optimistic that the corporation would hit their revenue expectations for the whole year. 

iRobot Corporation continues to strive for technological excellence by continuously developing and improving their Roomba, Scooba and PackBot robot series with new features, capabilities and innovations that would benefit both commercial and military consumers, including new applications catering to the medical field. 

This includes new trends and developments to these robots' control and maneuverability with innovations like the Remote Touch Kit (in the PackBot) as well as the ability to change state from solid to a futuristic liquid-like state (in the ChemBot).  

You can Listen to the webcast or read the entire transcript using the following links:

iRobot Corporation 3rd Quarter 2009 Earnings Call

 Listen to webcast
 

 Q3 2009 Earnings Call Script