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iRobot Corp. Reports Operating Results (10-K)

February 18, 2011 | About:

iRobot Corp. (NASDAQ:IRBT) filed Annual Report for the period ended 2011-01-01.

Irobot Corp. has a market cap of $753.6 million; its shares were traded at around $29.6 with a P/E ratio of 33.6 and P/S ratio of 1.8. Hedge Fund Gurus that owns IRBT: Jim Simons of Renaissance Technologies LLC, Steven Cohen of SAC Capital Advisors.

Highlight of Business Operations:

In government and industrial product markets, we currently offer both ground and maritime unmanned vehicles. Our tactical ground robots include the combat-tested 510 PackBot line of small, unmanned ground robots, the 310 SUGV and 320 SUGV (Small Unmanned Ground Vehicle) multi-purpose ground robots and the low-cost 210 Negotiator for state and local police and first responders. The PackBot, SUGV, and Negotiator robot series make up a family of robots using many common platform components and offer our patented flipper technology that enables robots to easily climb stairs, navigate rubble, and penetrate inaccessible areas. These robots are designed to keep war fighters and public safety officials out of harms way and are designed for high-performance, durability and ease of use while performing search, reconnaissance, mapping, bomb disposal and other dangerous missions. As of January 1, 2011, more than 3,500 robots have been delivered to military and civil defense forces worldwide. The robots are currently priced between approximately $20,000 and $195,000 per unit, depending on configuration and quantities ordered.

January 2, 2010 and December 27, 2008, our research and development expenses were $24.8 million, $14.7 million and $17.6 million, respectively. In addition to our internal research and development activities, for the years ended January 1, 2011, January 2, 2010 and December 27, 2008, we have incurred research and development expenses under funded development arrangements with governments and industrial third parties of $27.1 million, $30.8 million and $23.9 million, respectively. Of our total research and development spending in 2010, 2009 and 2008, approximately 50.4%, 63.9% and 51.7%, respectively was funded by government-sponsored research and development contracts. For the years ended January 1, 2011, January 2, 2010 and December 27, 2008, the combined investment in future technologies, classified as cost of revenue and research and development expense, was $51.9 million, $45.5 million and $41.5 million, respectively. We intend to continue our investment in research and development to respond to and anticipate customer needs, and to enable us to introduce new products over the next few years that will continue to address our existing market sectors.

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