Last10K.com

Irobot Corp (IRBT) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 30, 2019

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 First-Quarter Financial Results
Strong Global Demand for New Roomba i7/i7+ Robots Continues

BEDFORD, Mass., April 23, 2019 -
iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced its financial results for the first quarter ended March 30, 2019.

“We are off to the strong start we expected in 2019. First-quarter revenue grew 9% over Q1 2018. Domestic sell-through was strong, and demand for i7/i7+ exceeded our expectations despite the price increase we implemented on January 1st in the United States. Overseas, the launches of Roomba i7/i7+ in EMEA, Japan and China were very successful. Strong global demand for these products, coupled with the launch of two new products in the second quarter, are expected to drive Q2 revenue growth in the high teens year-over-year,” said Colin Angle, chairman and chief executive officer of iRobot.

“Given our Q1 results and our outlook for the rest of the year, we are reaffirming our 2019 full-year revenue and operating income expectations. We are increasing our full-year expectations for earnings per share to reflect the $0.14 favorable tax impact we recorded in Q1 that was previously un-forecasted. We anticipate full-year 2019 revenue of $1.28 to $1.31 billion, which is year-over-year growth of 17-20%, operating income of $108 to $118 million, and EPS of $3.15 to $3.40.

“I am very excited about the year ahead. We expect our global business to deliver strong financial performance that will fund our ability to reinforce our core product leadership in the RVC category, expand and diversify our product portfolio, widen our competitive moat through technological differentiation protected by our IP portfolio, and broaden our manufacturing and supply chain outside China."


Financial Results

Revenue for the first quarter of 2019 was $237.7 million, compared with $217.1 million for the first quarter of 2018.
GAAP operating income in the first quarter of 2019 was $22.3 million, compared with $25.4 million in the first quarter of 2018. Non-GAAP operating income in the first quarter of 2019 was $33.1 million, compared with $38.8 million in the first quarter of 2018.
Quarterly GAAP earnings per share were $0.78, compared with earnings per share of $0.71 in the first quarter of 2018. In Q1 2019, earnings per share included $0.14 of tax benefit relating primarily to stock compensation accounting, compared with a $0.05 tax benefit in Q1 2018. Quarterly non-GAAP earnings per share were $0.96 in 2019, compared with $1.04 in the first quarter of 2018.

Business Highlights

We delivered year-over-year Q1 quarterly revenue growth across all major regions.



The following information was filed by Irobot Corp (IRBT) on Tuesday, April 23, 2019 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Irobot Corp's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Irobot Corp.

Continue

Assess how Irobot Corp's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Irobot Corp's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Rating

Learn More
Bullish Bearish Neutral
Filter by Sentiment:
All
Positive
Negative
Filter by Category:
All
Revenue
Financial
M & A
Other
Filter by Subcategory:
All
Product
Expense
Earnings
Debt
Income
Other
Inside Irobot Corp's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets (Unaudited)
Consolidated Balance Sheets (Unaudited) (Parenthetical)
Consolidated Statement Of Shareholders' Equity Statement
Consolidated Statements Of Cash Flows (Unaudited)
Consolidated Statements Of Comprehensive Income (Unaudited)
Consolidated Statements Of Income Statement
Accrued Expenses
Accrued Expenses (Details)
Accrued Expenses (Tables)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Activity Related To Warranty Accrual (Detail)
Commitments And Contingencies - Additional Information (Detail)
Derivative Instruments (Details)
Derivative Instruments (Notes)
Derivative Instruments (Tables)
Derivative Instruments Schedule Of Derivative Instruments (Details)
Derivative Instruments Schedule Of Derivative Instruments (Tables)
Description Of Business
Fair Value Measurements (Notes)
Fair Value Measurements Fair Value On A Recurring Basis (Details)
Goodwill, Other Intangible Assets And Other Assets
Goodwill, Other Intangible Assets And Other Assets (Tables)
Goodwill, Other Intangible Assets And Other Assets - Additional Information (Detail)
Goodwill, Other Intangible Assets And Other Assets - Other Intangible Assets (Detail)
Goodwill, Other Intangible Assets And Other Assets Finite-Lived Intangible Assets, Schedule Of Future Amortization (Details)
Goodwill, Other Intangible Assets And Other Assets Schedule Of Goodwill (Details)
Income Taxes (Details)
Income Taxes (Notes)
Industry Segment, Geographic Information And Significant Customers
Industry Segment, Geographic Information And Significant Customers (Tables)
Industry Segment, Geographic Information And Significant Customers - Additional Information (Detail)
Industry Segment, Geographic Information And Significant Customers - Segment Information About Revenue, Cost Of Revenue, Gross Margin And Income Before Income Taxes (Detail)
Inventory
Inventory (Details)
Inventory (Tables)
Leases (Notes)
Leases (Tables)
Leases Financial Statement Impact Of Adopting Asc 842 (Details)
Leases Lease Cost (Details)
Leases Maturity Of Operating Lease Liability (Details)
Leases Supplemental Cash Flow (Details)
Revenue Recognition (Notes)
Revenue Recognition Contract Balances (Details)
Revenue Recognition Contract Balances (Tables)
Revenue Recognition Disaggregation Of Revenue (Details)
Revenue Recognition Disaggregation Of Revenue (Tables)
Revenue Recognition Significant Judgments (Details)
Stockholders Equity (Details)
Stockholders Equity (Notes)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Summary Of Significant Accounting Policies - Basic And Diluted Net Income Per Share (Detail)
Summary Of Significant Accounting Policies Other Assets (Details)

Material Contracts, Statements, Certifications & more

Irobot Corp provided additional information to their SEC Filing as exhibits

Ticker: IRBT
CIK: 1159167
Form Type: 10-Q Quarterly Report
Accession Number: 0001159167-19-000016
Submitted to the SEC: Thu May 02 2019 12:19:58 PM EST
Accepted by the SEC: Thu May 02 2019
Period: Saturday, March 30, 2019
Industry: Household Appliances

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/irbt/0001159167-19-000016.htm