iRobot exceeds the expectations


Revenue of iRobot for the second quarter of 2017 was 183.1 million dollar, compared with 148.7 million for the second quarter of 2016. Revenue for the first half of 2017 was 351.6 million dollar, compared with 279.5 million last year. Operating income in the second quarter of 2017 was 4.1 million, compared with 5.9 million dollar in the second quarter of 2016. For the first half of 2017, operating income was 25.7 million, compared with 11.4 million a year ago.
«Our outstanding second-quarter results – said Colin Angle, chairman and chief executive officer of iRobot – exceeded our expectations. Based on our Q2 results, and our outlook for the rest of 2017, fueled by positive momentum in the United States and EMEA, we are increasing our full-year 2017 financial expectations. We now expect 2017 revenue of 815 to 825 million dollar, a 24 – 26% increase over 2016 consumer revenue, operating income of between 67 and 75 million dollar, and EPS of between 1.80 and 2.00 dollar, none of which reflects any impact of our announced acquisition of our largest European distributor.»
Success was obtained thanks to different factors. In the U.S., consumer revenue grew more than 45% year over year. iRobot launched the Roomba 890 and Roomba 690 Wi-Fi connected vacuuming robots in the U.S., EMEA and China, extending the benefits of cloud-connected cleaning at lower price points. In addition, the company presented the Roomba 900 series robots in China. At the beginning of Q4 2017 it is expected the closure of the acquisition by iRobot of Robopolis, its largest European distributor.
«With our increased expectations for full-year revenue – concludes Colin Angle – we plan to reinvest a portion of the incremental profitability to capitalize on the strong U.S. and EMEA momentum and ensure our continued product leadership in a rapidly growing, competitive marketplace. We will make incremental S&M investments to further promote our Braava family of robots, building on the momentum we have seen over the past couple of quarters. In addition, we will make additional investments in R&D to accelerate our product roadmap in anticipation of new product launches in 2018.»