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Irobot Corp (IRBT) SEC Filing 10-Q Quarterly report for the period ending Saturday, June 29, 2019

Irobot Corp

CIK: 1159167 Ticker: IRBT


EX-99.1
Contacts:
 
 
 
 
Andrew Kramer
 
 
 
Matthew Lloyd
Investor Relations
 
 
 
Media Relations
iRobot Corp.
 
 
 
iRobot Corp.
(781) 430-3003
 
 
 
(781) 430-3720
akramer@irobot.com
 
 
 
mlloyd@irobot.com
 
 
 
 
 

iRobot Reports Second-Quarter Financial Results
Double-Digit Revenue Growth in All Regions

BEDFORD, Mass., July 23, 2019 -
iRobot Corp. (NASDAQ: IRBT), a leader in consumer robots, today announced its financial results for the second quarter ended June 29, 2019.

“We delivered 15% revenue growth as a result of double-digit expansion in each major geographic region,” said Colin Angle, chairman and chief executive officer of iRobot. “We took steps to adjust spending during the quarter, which enabled us to deliver higher-than-expected operating income and EPS results. The successful launch of our new Roomba s9 vacuums and Braava jet m6 mops at the end of May represented an important milestone in our plans to strengthen Roomba leadership, extend the portfolio beyond vacuuming and advance our position in the Smart Home.”

Commenting on the Company’s outlook for 2019, Angle stated, “Although we achieved our U.S. revenue target in the second quarter, we believe that the direct and indirect impacts of the ongoing U.S.-China trade war and the recently implemented 25% tariffs are likely to constrain U.S. market segment growth in the second half of the year below our expectations at the start of 2019. Given our results for the year-to-date and the anticipated impact of higher tariffs on domestic segment growth, we believe it is prudent to update our 2019 full-year expectations. We now anticipate full-year 2019 revenue of $1.2 to $1.25 billion, which represents year-over-year growth of approximately 10% to 14%, full-year 2019 operating income of $75 to $100 million, and full-year 2019 EPS of $2.40 to $3.15.”

“Even as we operate in a higher tariff environment in the U.S., 2019 is shaping up to be another successful year of double-digit revenue growth and impressive global segment leadership. Moving forward, we remain enthusiastic about the many attractive opportunities we see to advance key elements of our strategy that underpin our efforts to drive sustainable growth and shareholder value,” concluded Angle.
 
Financial Results

Revenue for the second quarter of 2019 was $260.2 million, compared with $226.3 million for the second quarter of 2018. Revenue for the first half of 2019 was $497.8 million, compared with $443.4 million last year.
Operating income in the second quarter of 2019 was $5.3 million, compared with $13.4 million in the second quarter of 2018. For the first half of 2019, operating income was $27.5 million, compared with $38.8 million a year ago.
Quarterly earnings per share were $0.25 for the second quarter of 2019, compared with $0.37 in the second quarter of 2018. First-half earnings per share were $1.03, compared with $1.08 in the first half of 2018.





The following information was filed by Irobot Corp (IRBT) on Tuesday, July 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.

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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: 0001159167-19-000029
Submitted to the SEC: Thu Aug 01 2019 12:08:06 PM EST
Accepted by the SEC: Thu Aug 01 2019
Period: Saturday, June 29, 2019
Industry: Household Appliances

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