This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IRobot's CEO Discusses Q1 2012 Results - Earnings Call Transcript

On today's call, iRobot Chairman and CEO, Colin Angle, will provide a review of the company's operations and achievements for the first quarter of 2012, as well as our business outlook for the rest of 2012. And John Leahy, Chief Financial Officer, will review our financial results for the first quarter and provide our financial expectations for the full year 2012 and the second quarter ending June 30, 2012. Then we'll open the call for questions.

At this point, I'll turn the call over to Colin Angle.

Colin Angle

Good morning and thank you for joining us. We kicked off the 2012 with a better than anticipated quarter. The results and outlook for our Home Robot business are excellent, while the near-term visibility in our Defense and Security business continues to be limited.

Total Q1 revenue of $98 million was at the high-end of our expectations for the quarter, while adjusted EBITDA of $6 million and EPS of $0.02 for the quarter, both exceeded our expectations. Strong growth in both our international and U.S. markets fueled a 20% year-over-year increase in Home Robot revenue.

We are successfully expanding our distribution of new products and increasing our penetration in existing markets, while establishing a presence in new markets. Our steadily increasing Home Robot global reach is enabling us to weather continuing U.S. budget issues impacting are Defense and Security business.

Based on our view of the rest of the year, we are reaffirming our financial expectations shared this past February, to deliver full year 2012 revenue of $465 million to $485 million, EPS between $0.75 and $0.95 and adjusted EBITDA of $56 million to $63 million. Our outlook by business unit has changed and due to significant growth in Home Robots, we now expect that business to comprise approximately 75% of total company revenue for the year.

2 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $95.18 1.64%
FB $117.43 -0.96%
GOOG $692.36 -0.84%
TSLA $232.32 -3.92%
YHOO $36.01 -1.42%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs