Attached files
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8-K - 8-K - IROBOT CORP | q12013earningsreleasefinal2.htm |
EX-1.99.1 - EXHIBIT - IROBOT CORP | pressrelease.htm |
EX-99.2
iRobot Corporation | |||||||||||||||||||
Consolidated Statements of Income | |||||||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||||||
(unaudited) | |||||||||||||||||||
Fiscal Quarter Ended | Fiscal Year Ended | ||||||||||||||||||
March 31, 2012 | June 30, 2012 | September 29, 2012 | December 29, 2012 | December 29, 2012 | |||||||||||||||
Revenue | |||||||||||||||||||
Product revenue | $ | 91,742 | $ | 107,760 | $ | 121,174 | $ | 97,874 | $ | 418,550 | |||||||||
Contract revenue | 6,065 | 3,685 | 5,124 | 2,820 | 17,694 | ||||||||||||||
Total | 97,807 | 111,445 | 126,298 | 100,694 | 436,244 | ||||||||||||||
Cost of Revenue | |||||||||||||||||||
Product revenue | 56,297 | 57,124 | 65,957 | 54,969 | 234,347 | ||||||||||||||
Contract revenue | 3,936 | 2,128 | 2,565 | 1,653 | 10,282 | ||||||||||||||
Total | 60,233 | 59,252 | 68,522 | 56,622 | 244,629 | ||||||||||||||
Gross Margin | 37,574 | 52,193 | 57,776 | 44,072 | 191,615 | ||||||||||||||
Operating Expense | |||||||||||||||||||
Research and development | 13,522 | 13,559 | 12,340 | 14,912 | 54,333 | ||||||||||||||
Selling and marketing | 12,333 | 17,976 | 11,376 | 24,727 | 66,412 | ||||||||||||||
General and administrative | 11,042 | 10,022 | 11,326 | 13,308 | 45,698 | ||||||||||||||
Total | 36,897 | 41,557 | 35,042 | 52,947 | 166,443 | ||||||||||||||
Operating income (loss) | 677 | 10,636 | 22,734 | (8,875 | ) | 25,172 | |||||||||||||
Other income (expense), net | 220 | 60 | 197 | (42 | ) | 435 | |||||||||||||
Income (loss) before income taxes | 897 | 10,696 | 22,931 | (8,917 | ) | 25,607 | |||||||||||||
Income tax expense (benefit) | 244 | 3,321 | 7,724 | (2,979 | ) | 8,310 | |||||||||||||
Net income (loss) | $ | 653 | $ | 7,375 | $ | 15,207 | $ | (5,938 | ) | $ | 17,297 | ||||||||
Net income (loss) per common share: | |||||||||||||||||||
Basic | $ | 0.02 | $ | 0.27 | $ | 0.55 | $ | (0.21 | ) | $ | 0.63 | ||||||||
Diluted | $ | 0.02 | $ | 0.26 | $ | 0.54 | $ | (0.21 | ) | $ | 0.61 | ||||||||
Shares used in per common share calculations: | |||||||||||||||||||
Basic | 27,352 | 27,522 | 27,650 | 27,802 | 27,577 | ||||||||||||||
Diluted | 28,283 | 28,182 | 28,321 | 27,802 | 28,301 | ||||||||||||||
Stock-based compensation included in above figures: | |||||||||||||||||||
Cost of product revenue | $ | 214 | $ | 216 | $ | 289 | $ | 174 | $ | 893 | |||||||||
Cost of contract revenue | — | — | — | — | — | ||||||||||||||
Research & development | 454 | 448 | 365 | 633 | 1,900 | ||||||||||||||
Selling & marketing | 237 | 179 | 158 | 234 | 808 | ||||||||||||||
General & administrative | 1,608 | 2,059 | 1,796 | 1,919 | 7,382 | ||||||||||||||
Total | $ | 2,513 | $ | 2,902 | $ | 2,608 | $ | 2,960 | $ | 10,983 |
iRobot Corporation | |||||||||||||||
Consolidated Statements of Income | |||||||||||||||
(in thousands, except per share amounts) | |||||||||||||||
(unaudited) | |||||||||||||||
Fiscal Year Ended | |||||||||||||||
December 29, 2012 | December 31, 2011 | January 1, 2011 | January 2, 2010 | ||||||||||||
Revenue | |||||||||||||||
Product revenue | $ | 418,550 | $ | 426,525 | $ | 360,394 | $ | 262,199 | |||||||
Contract revenue | 17,694 | 38,975 | 40,558 | 36,418 | |||||||||||
Total | 436,244 | 465,500 | 400,952 | 298,617 | |||||||||||
Cost of Revenue | |||||||||||||||
Product revenue | 234,347 | 241,503 | 218,749 | 175,956 | |||||||||||
Contract revenue | 10,282 | 21,987 | 23,396 | 22,902 | |||||||||||
Total | 244,629 | 263,490 | 242,145 | 198,858 | |||||||||||
Gross Margin | 191,615 | 202,010 | 158,807 | 99,759 | |||||||||||
Operating Expense | |||||||||||||||
Research and development | 54,333 | 54,457 | 45,941 | 31,186 | |||||||||||
Selling and marketing | 66,412 | 50,477 | 42,778 | 33,026 | |||||||||||
General and administrative | 45,698 | 43,753 | 36,618 | 30,110 | |||||||||||
Total | 166,443 | 148,687 | 125,337 | 94,322 | |||||||||||
Operating income | 25,172 | 53,323 | 33,470 | 5,437 | |||||||||||
Other income (expense), net | 435 | 218 | 504 | (81 | ) | ||||||||||
Income before income taxes | 25,607 | 53,541 | 33,974 | 5,356 | |||||||||||
Income tax expense | 8,310 | 13,350 | 8,460 | 2,026 | |||||||||||
Net income | $ | 17,297 | $ | 40,191 | $ | 25,514 | $ | 3,330 | |||||||
Net income per common share: | |||||||||||||||
Basic | $ | 0.63 | $ | 1.50 | $ | 1.00 | $ | 0.13 | |||||||
Diluted | $ | 0.61 | $ | 1.44 | $ | 0.96 | $ | 0.13 | |||||||
Shares used in per common share calculations: | |||||||||||||||
Basic | 27,577 | 26,712 | 25,394 | 24,998 | |||||||||||
Diluted | 28,301 | 27,924 | 26,468 | 25,640 | |||||||||||
Stock-based compensation included in above figures: | |||||||||||||||
Cost of product revenue | $ | 893 | $ | 1,093 | $ | 898 | $ | 1,094 | |||||||
Cost of contract revenue | — | — | — | — | |||||||||||
Research & development | 1,900 | 1,325 | 1,584 | 959 | |||||||||||
Selling & marketing | 808 | 724 | 1,161 | 1,410 | |||||||||||
General & administrative | 7,382 | 5,642 | 4,522 | 4,099 | |||||||||||
Total | $ | 10,983 | $ | 8,784 | $ | 8,165 | $ | 7,562 |
iRobot Corporation | |||||||||||||||||||
Segment Information | |||||||||||||||||||
(in thousands) | |||||||||||||||||||
(unaudited) | |||||||||||||||||||
Fiscal Quarter Ended | Fiscal Year Ended | ||||||||||||||||||
March 31, 2012 | June 30, 2012 | September 29, 2012 | December 29, 2012 | December 29, 2012 | |||||||||||||||
Revenue: | |||||||||||||||||||
Home Robots | $ | 81,583 | $ | 96,013 | $ | 96,291 | $ | 82,918 | $ | 356,805 | |||||||||
Defense & Security Robots | 14,162 | 13,223 | 27,832 | 15,731 | 70,948 | ||||||||||||||
Other | 2,062 | 2,209 | 2,175 | 2,045 | 8,491 | ||||||||||||||
Total | 97,807 | 111,445 | 126,298 | 100,694 | 436,244 | ||||||||||||||
Cost of Revenue: | |||||||||||||||||||
Home Robots | 43,208 | 45,085 | 45,983 | 40,480 | 174,756 | ||||||||||||||
Defense & Security Robots | 8,799 | 6,803 | 14,471 | 8,315 | 38,388 | ||||||||||||||
Other | 8,226 | 7,364 | 8,068 | 7,827 | 31,485 | ||||||||||||||
Total | 60,233 | 59,252 | 68,522 | 56,622 | 244,629 | ||||||||||||||
Gross Margin | |||||||||||||||||||
Home Robots | 38,375 | 50,928 | 50,308 | 42,438 | 182,049 | ||||||||||||||
Defense & Security Robots | 5,363 | 6,420 | 13,361 | 7,416 | 32,560 | ||||||||||||||
Other | (6,164 | ) | (5,155 | ) | (5,893 | ) | (5,782 | ) | (22,994 | ) | |||||||||
Total | 37,574 | 52,193 | 57,776 | 44,072 | 191,615 | ||||||||||||||
Research and development | 13,522 | 13,559 | 12,340 | 14,912 | 54,333 | ||||||||||||||
Selling and marketing | 12,333 | 17,976 | 11,376 | 24,727 | 66,412 | ||||||||||||||
General and administrative | 11,042 | 10,022 | 11,326 | 13,308 | 45,698 | ||||||||||||||
Other income (expense), net | 220 | 60 | 197 | (42 | ) | 435 | |||||||||||||
Income (loss) before income taxes | $ | 897 | $ | 10,696 | $ | 22,931 | $ | (8,917 | ) | $ | 25,607 |
iRobot Corporation | |||||||||||||||
Segment Information | |||||||||||||||
(in thousands) | |||||||||||||||
(unaudited) | |||||||||||||||
Fiscal Year Ended | |||||||||||||||
December 29, 2012 | December 31, 2011 | January 1, 2011 | January 2, 2010 | ||||||||||||
Revenue: | |||||||||||||||
Home Robots | $ | 356,805 | $ | 278,551 | $ | 229,348 | $ | 165,860 | |||||||
Defense & Security Robots | 70,948 | 175,119 | 159,889 | 122,746 | |||||||||||
Other | 8,491 | 11,830 | 11,715 | 10,011 | |||||||||||
Total | 436,244 | 465,500 | 400,952 | 298,617 | |||||||||||
Cost of Revenue: | |||||||||||||||
Home Robots | 174,756 | 151,299 | 135,875 | 111,513 | |||||||||||
Defense & Security Robots | 38,388 | 76,620 | 72,746 | 57,485 | |||||||||||
Other | 31,485 | 35,571 | 33,524 | 29,860 | |||||||||||
Total | 244,629 | 263,490 | 242,145 | 198,858 | |||||||||||
Gross Margin | |||||||||||||||
Home Robots | 182,049 | 127,252 | 93,473 | 54,347 | |||||||||||
Defense & Security Robots | 32,560 | 98,499 | 87,143 | 65,261 | |||||||||||
Other | (22,994 | ) | (23,741 | ) | (21,809 | ) | (19,849 | ) | |||||||
Total | 191,615 | 202,010 | 158,807 | 99,759 | |||||||||||
Research and development | 54,333 | 54,457 | 45,941 | 31,186 | |||||||||||
Selling and marketing | 66,412 | 50,477 | 42,778 | 33,026 | |||||||||||
General and administrative | 45,698 | 43,753 | 36,618 | 30,110 | |||||||||||
Other income (expense), net | 435 | 218 | 504 | (81 | ) | ||||||||||
Income before income taxes | $ | 25,607 | $ | 53,541 | $ | 33,974 | $ | 5,356 | |||||||