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Irobot Corp (IRBT) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 28, 2013

Irobot Corp

CIK: 1159167 Ticker: IRBT


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Elise Caffrey
 
Matthew Lloyd
 
 
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iRobot Corp.
 
iRobot Corp.
 
 
(781) 430-3003
 
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ecaffrey@irobot.com
 
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iRobot Reports Fourth-Quarter and Full-Year Financial Results
Home Robot Business Grew 20 Percent in 2013, Expected to Drive Continued Growth in 2014

BEDFORD, Mass., Feb. 5, 2014 -
iRobot Corp. (NASDAQ: IRBT), a leader in delivering robotic technology-based solutions, today announced its financial results for the fourth quarter and full year ended December 28, 2013.

“2013 was a great year for iRobot. Our Home Robot business increased 20 percent over 2012, driven by growth in both domestic and overseas markets,” said Colin Angle, chairman and chief executive officer of iRobot. “All three of our businesses met our expectations and made significant progress against their strategic plans, setting us up well for 2014.

“In 2014, our financial performance will continue to be driven by our Home Robot business. Home Robot revenue is expected to grow in the mid-to-high teens in 2014 and comprise 90 percent of total company revenue. Our Defense & Security business is expected to perform at 2013 levels, and our Remote Presence business will be shipping product into two markets.

“For 2014, we expect revenue of $560 to $570 million, EPS of between $1.00 and $1.15 and Adjusted EBITDA of $74 to $78 million, or roughly 14 percent of revenue. These expectations are a strong next step in progressing towards our three-year targets of:
Mid-high teen revenue CAGR,
High teen Adjusted EBITDA margin and,
High single digit Operating Cash Flow margin”

Financial Results

Revenue for the fourth quarter of 2013 was $126.3 million, compared with $100.7 million for the fourth quarter of 2012. Revenue for the full year 2013 was $487.4 million, compared with $436.2 million for the full year 2012.
Net income for the fourth quarter of 2013 was $3.2 million, compared with a net loss of ($5.9) million for the fourth quarter of 2012. Net income for the full year 2013 was $27.6 million, compared with $17.3 million for full-year 2012.
Quarterly earnings per share were $0.11, compared with a quarterly loss per share of ($0.21) in the fourth quarter last year. Full-year earnings per share were $0.94, compared with $0.61 last year.
Adjusted EBITDA for the fourth quarter of 2013 was $12.8 million, compared with $1.0 million in the fourth quarter of 2012. Adjusted EBITDA for the full year 2013 was $62.2 million, compared with $52.5 million for full-year 2012.






The following information was filed by Irobot Corp (IRBT) on Wednesday, February 5, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statement Of Comprehensive Income
Consolidated Statements Of Cash Flows
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Accrued Expenses
Accrued Expenses (details)
Accrued Expenses (tables)
Acquisition Of Evolution Robotics, Inc.
Acquisition Of Evolution Robotics, Inc. Acquisition Of Evolution Robotics, Inc. (details 1)
Acquisition Of Evolution Robotics, Inc. Acquisition Of Evolution Robotics, Inc. (details Textual)
Acquisition Of Evolution Robotics, Inc. Acquisition Of Evolution Robotics, Inc. (tables)
Commitments And Contingencies
Commitments And Contingencies (details 1)
Commitments And Contingencies (details Textual)
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Common Stock
Employee Benefits
Employee Benefits (details)
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets (details 1)
Goodwill And Other Intangible Assets (details Textual)
Goodwill And Other Intangible Assets (details)
Goodwill And Other Intangible Assets (tables)
Income Taxes
Income Taxes (details 1)
Income Taxes (details 2)
Income Taxes (details 3)
Income Taxes (details 4)
Income Taxes (details Textual)
Income Taxes (details)
Income Taxes (tables)
Industry Segment Geographic Information And Significant Customers (details)
Industry Segment, Geographic Information And Significant Customers
Industry Segment, Geographic Information And Significant Customers (details Textual)
Industry Segment, Geographic Information And Significant Customers (tables)
Inventory
Inventory (details)
Inventory (tables)
Nature Of The Business
Other Assets
Other Assets (details)
Other Assets (tables)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Quarterly Information (unaudited)
Quarterly Information (unaudited) (details)
Quarterly Information (unaudited) (tables)
Restructuring Charges
Restructuring Charges Restructuring Charges (details)
Restructuring Charges Restructuring Charges (tables)
Revolving Line Of Credit
Revolving Line Of Credit (details)
Stock Options Plans And Stock Based Compensation (details 4)
Stock Options Plans And Stock Based Compensation (details Textual)
Stock Options Plans And Stock-based Compensation
Stock Options Plans And Stock-based Compensation (details 1)
Stock Options Plans And Stock-based Compensation (details 2)
Stock Options Plans And Stock-based Compensation (details 3)
Stock Options Plans And Stock-based Compensation (details)
Stock Options Plans And Stock-based Compensation (tables)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (details 1)
Summary Of Significant Accounting Policies (details 2)
Summary Of Significant Accounting Policies (details 3)
Summary Of Significant Accounting Policies (details 4)
Summary Of Significant Accounting Policies (details 5)
Summary Of Significant Accounting Policies (details Textual)
Summary Of Significant Accounting Policies (details Texutal - Property Plant And Equipment)
Summary Of Significant Accounting Policies (details)
Summary Of Significant Accounting Policies (policies)
Summary Of Significant Accounting Policies (tables)
Summary Of Significant Accounting Policies Revision (details)
Ticker: IRBT
CIK: 1159167
Form Type: 10-K Annual Report
Accession Number: 0001159167-14-000007
Submitted to the SEC: Tue Feb 18 2014 2:25:38 PM EST
Accepted by the SEC: Tue Feb 18 2014
Period: Saturday, December 28, 2013
Industry: Household Appliances

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