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MHT Emerging Technologies Forum: Robotics
Bedford-based iRobot Corp. saw its second quarter revenue jump against the same period last year, driving the company out of the red and into the black. Revenue for Q2 2010 was $97.8 million, versus $61.3 million in the second quarter of 2009.
That steered iRobot (Nasdaq: IRBT) to a Q2 profit of $5.3 million this year, as opposed to the $2.6 million loss the company reported in Q2 2009. Cash and investments also ballooned, to $98 million at the end of the quarter, from $48 million at the end of Q2 2009.
The robotics company had reported a turnaround in the first quarter as well in April, with $6.1 million in net income, compared with a $1.78 million loss in the comparable period in 2009.
The home robot business accounted for $53 million of iRobot’s Q2 revenue, and the international slice of that market was the biggest piece, with $36 million, and the fastest grower, with a jump of 80 percent over Q2 2009.
For the government sector of iRobot, the company said it shipped 138 PackBot robots and 100 Small Unmanned Ground Vehicles during the quarter, which accounted for a 65 percent boost in revenue against 2009’s second quarter.
In May, iRobot CEO Colin Angle talked about the future of the company, which includes a new segment focusing on home health care robotics, and is headed by former Authoria Inc. founder and CEO Tod Loofbourrow.
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