iRobot Second-Quarter Financial Results Exceed Expectations
BEDFORD, Mass., July 21, 2015 /PRNewswire/ — iRobot Corp. (NASDAQ: IRBT), a leader in delivering robotic technology-based solutions, today announced its financial results for the second quarter ended June 27, 2015.
“Our second quarter results exceeded our expectations. Home Robot revenue was up slightly over last year while Defense & Security revenue more than doubled. Incremental marketing investments we made in the United States and overseas have successfully driven sell-through that we expect to result in second half replenishment orders,” said Colin Angle, chairman and chief executive officer of iRobot.
“Based on our Q2 results and our outlook for the rest of 2015, we are reaffirming our full year expectations. Although Q2 was above expectations, this was primarily due to timing. Predicting individual quarterly results is challenging, but our over performance in Q2 alleviates some pressure on the second-half ramp. We continue to expect 2015 revenue of $625 to $635 million, driven by Home Robot growth, EPS of between $1.25 and $1.35 and Adjusted EBITDA of $85 to $90 million, or roughly 14% of revenue. These expectations continue to reflect our confidence that Home Robot revenue will grow 11-13% for the full year. We expect all three regions to grow year over year, driven by strong performance in the United States and China.