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Irobot Corp (IRBT) SEC Filing 10-K Annual report for the fiscal year ending Saturday, December 31, 2016

Irobot Corp

CIK: 1159167 Ticker: IRBT


EX-99.1
Contacts:
 
 
 
 
Elise Caffrey
 
 
 
Matthew Lloyd
Investor Relations
 
 
 
Media Relations
iRobot Corp.
 
 
 
iRobot Corp.
(781) 430-3003
 
 
 
(781) 430-3720
ecaffrey@irobot.com
 
 
 
mlloyd@irobot.com
 
 
 
 
 



iRobot Reports Fourth-Quarter and Full-Year Financial Results

Q4 and Full-Year Results Exceed Expectations
 
Accelerating Overseas Growth and Continued U.S. Momentum Drive Strong 2017 Expectations


BEDFORD, Mass., Feb. 8, 2017 -
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 31, 2016.

“2016 was a fantastic year for iRobot. Our Q4 and full year 2016 results exceeded our increased expectations. Record Q4 revenue was driven by very strong sales in the United States despite having the highest number of competitors we’ve ever seen. Higher revenue coupled with continued improvement in gross margin allowed us to increase investment and capitalize on our momentum executing on our business strategy, while returning additional profit to shareholders and setting a strong foundation for 2017 and beyond,” said Colin Angle, chairman and chief executive officer of iRobot.

“In 2017, we are expecting revenue of $770 to $785 million, which is year-over-year growth of 17% to 19%, EPS of $1.35 to $1.65 and operating income of $57 to $70 million. These expectations include the anticipated financial impact of our Japanese distributor acquisition, targeted to close at the beginning of Q2 2017. In November of 2016, we issued a press release, announcing our signed definitive agreement, and stated that for 2017 we expected a positive revenue impact of $20 to $25 million and a one-time negative impact to earnings per share of $0.25 - $0.35.

“We will achieve the 2017 performance by driving revenue growth through deeper household penetration of Roomba® in the U.S., accelerating growth in overseas markets, capitalizing on our first mover advantage in the wet floor care category, particularly in Asia where Braava® and Braava jet™ have been enthusiastically received, expanding gross margin through improved operating efficiencies and scale, and continuing to extend connectivity across more of our products, allowing us to offer more robots with mapping capabilities and cloud connectivity at more accessible price points, growing our role in the emerging Smart Home.

“There is a lot to be excited about. 2016 was a pivotal year for iRobot as we exited non-consumer businesses to focus solely on products for the home. We did so while delivering outstanding financial results for the year. Q4 was a record quarter for us and it was driven from the successful investments we made leading up to and throughout 2016, as we responded well to increasingly competitive market conditions. 2017 will be our first full year as a consumer technology company and we plan to capitalize on the investments we have been making.”



The following information was filed by Irobot Corp (IRBT) on Wednesday, February 8, 2017 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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Inside Irobot Corp's 10-K Annual Report:

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)
Commitments And Contingencies
Commitments And Contingencies (details 1)
Commitments And Contingencies (details Textual)
Commitments And Contingencies (details)
Commitments And Contingencies (tables)
Common Stock
Common Stock Stock Repurchase (details)
Derivative Instruments (details)
Derivative Instruments (notes)
Derivative Instruments (tables)
Derivative Instruments Schedule Of Derivative Instruments (details)
Derivative Instruments Schedule Of Derivative Instruments (tables)
Divestiture (details)
Divestiture (notes)
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)
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)
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)
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 Cash And Cash Equivalents (details)
Summary Of Significant Accounting Policies Inventory Valuation (details)
Working Capital Facilities
Working Capital Facilities (details)
Ticker: IRBT
CIK: 1159167
Form Type: 10-K Annual Report
Accession Number: 0001159167-17-000007
Submitted to the SEC: Fri Feb 17 2017 4:37:50 PM EST
Accepted by the SEC: Fri Feb 17 2017
Period: Saturday, December 31, 2016
Industry: Household Appliances

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