iRobot Corp. (NASDAQ: IRBT), a leader in delivering robotic technology-based solutions, has received a $12.7 million order from the U.S. Army Contracting Command in Warren, Michigan for 68 of the company’s model 310 SUGV robots and spares kits. All deliveries will be completed by August 31, 2012.
This is the second order under a requirements contract that allows the Army to purchase iRobot 310 SUGV robots and spares kits through September 2015. To date, 138 robots and spares kits have been delivered under the contract, bringing its total current value to approximately $24 million.
The iRobot 310 SUGV is a man-portable robot with dexterous manipulator and wearable controller. A smaller and lighter version of the combat-proven iRobot PackBot, it enters areas that are inaccessible or too dangerous for people, providing state-of-the-art technology for infantry troops, combat engineers, mobile EOD technicians and other personnel.
“While primarily geared towards dismounted EOD operations, 310 SUGV is adaptable and expandable,” said Tim Trainer, interim general manager of iRobot’s Defense & Security business unit. “The robot can be outfitted with a wide range of payloads and sensors, allowing warfighters and public safety professionals to stay out of harm’s way while gathering situational awareness in a variety of missions.”iRobot has delivered more than 4,500 unmanned ground vehicles to military and civil defense forces worldwide. About iRobot Corp. iRobot designs and builds robots that make a difference. The company’s home robots help people with smarter ways to clean, and its defense & security robots protect those in harm’s way. iRobot’s consumer and military robots feature iRobot Aware® robot intelligence systems, proprietary technology incorporating advanced concepts in navigation, mobility, manipulation and artificial intelligence. For more information about iRobot, please visit www.irobot.com. For iRobot Investors Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, iRobot Corp.’s expectations concerning delivery of future orders. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. iRobot Corp. undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by iRobot Corp., see the disclosure contained in our public filings with the Securities and Exchange Commission including, without limitation, our most recent Annual Report on Form 10-K.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV