iRobot (IRBT) 8-K Results of Operations and Financial Condition

EX-99.2

iRobot Corporation
Consolidated Statements of Income
(in thousands, except per share amounts)
(unaudited)
	Fiscal Quarter Ended									Fiscal Year Ended
	March 31, 2012		June 30, 2012		September 29, 2012		December 29, 2012			December 29, 2012
Revenue
Product revenue	$	91,742	$	107,760	$	121,174	$	97,874		$	418,550
Contract revenue	6,065		3,685		5,124		2,820			17,694
Total	97,807		111,445		126,298		100,694			436,244
Cost of Revenue
Product revenue	56,297		57,124		65,957		54,969			234,347
Contract revenue	3,936		2,128		2,565		1,653			10,282
Total	60,233		59,252		68,522		56,622			244,629
Gross Margin	37,574		52,193		57,776		44,072			191,615
Operating Expense
Research and development	13,522		13,559		12,340		14,912			54,333
Selling and marketing	12,333		17,976		11,376		24,727			66,412
General and administrative	11,042		10,022		11,326		13,308			45,698
Total	36,897		41,557		35,042		52,947			166,443
Operating income (loss)	677		10,636		22,734		(8,875		)	25,172
Other income (expense), net	220		60		197		(42		)	435
Income (loss) before income taxes	897		10,696		22,931		(8,917		)	25,607
Income tax expense (benefit)	244		3,321		7,724		(2,979		)	8,310
Net income (loss)	$	653	$	7,375	$	15,207	$	(5,938	)	$	17,297
Net income (loss) per common share:
Basic	$	0.02	$	0.27	$	0.55	$	(0.21	)	$	0.63
Diluted	$	0.02	$	0.26	$	0.54	$	(0.21	)	$	0.61
Shares used in per common share calculations:
Basic	27,352		27,522		27,650		27,802			27,577
Diluted	28,283		28,182		28,321		27,802			28,301
Stock-based compensation included in above figures:
Cost of product revenue	$	214	$	216	$	289	$	174		$	893
Cost of contract revenue	—		—		—		—			—
Research & development	454		448		365		633			1,900
Selling & marketing	237		179		158		234			808
General & administrative	1,608		2,059		1,796		1,919			7,382
Total	$	2,513	$	2,902	$	2,608	$	2,960		$	10,983

iRobot Corporation
Consolidated Statements of Income
(in thousands, except per share amounts)
(unaudited)
	Fiscal Year Ended
	December 29, 2012		December 31, 2011		January 1, 2011		January 2, 2010
Revenue
Product revenue	$	418,550	$	426,525	$	360,394	$	262,199
Contract revenue	17,694		38,975		40,558		36,418
Total	436,244		465,500		400,952		298,617
Cost of Revenue
Product revenue	234,347		241,503		218,749		175,956
Contract revenue	10,282		21,987		23,396		22,902
Total	244,629		263,490		242,145		198,858
Gross Margin	191,615		202,010		158,807		99,759
Operating Expense
Research and development	54,333		54,457		45,941		31,186
Selling and marketing	66,412		50,477		42,778		33,026
General and administrative	45,698		43,753		36,618		30,110
Total	166,443		148,687		125,337		94,322
Operating income	25,172		53,323		33,470		5,437
Other income (expense), net	435		218		504		(81		)
Income before income taxes	25,607		53,541		33,974		5,356
Income tax expense	8,310		13,350		8,460		2,026
Net income	$	17,297	$	40,191	$	25,514	$	3,330
Net income per common share:
Basic	$	0.63	$	1.50	$	1.00	$	0.13
Diluted	$	0.61	$	1.44	$	0.96	$	0.13
Shares used in per common share calculations:
Basic	27,577		26,712		25,394		24,998
Diluted	28,301		27,924		26,468		25,640
Stock-based compensation included in above figures:
Cost of product revenue	$	893	$	1,093	$	898	$	1,094
Cost of contract revenue	—		—		—		—
Research & development	1,900		1,325		1,584		959
Selling & marketing	808		724		1,161		1,410
General & administrative	7,382		5,642		4,522		4,099
Total	$	10,983	$	8,784	$	8,165	$	7,562

iRobot Corporation
Segment Information
(in thousands)
(unaudited)
	Fiscal Quarter Ended												Fiscal Year Ended
	March 31, 2012			June 30, 2012			September 29, 2012			December 29, 2012			December 29, 2012
Revenue:
Home Robots	$	81,583		$	96,013		$	96,291		$	82,918		$	356,805
Defense & Security Robots	14,162			13,223			27,832			15,731			70,948
Other	2,062			2,209			2,175			2,045			8,491
Total	97,807			111,445			126,298			100,694			436,244
Cost of Revenue:
Home Robots	43,208			45,085			45,983			40,480			174,756
Defense & Security Robots	8,799			6,803			14,471			8,315			38,388
Other	8,226			7,364			8,068			7,827			31,485
Total	60,233			59,252			68,522			56,622			244,629
Gross Margin
Home Robots	38,375			50,928			50,308			42,438			182,049
Defense & Security Robots	5,363			6,420			13,361			7,416			32,560
Other	(6,164		)	(5,155		)	(5,893		)	(5,782		)	(22,994		)
Total	37,574			52,193			57,776			44,072			191,615
Research and development	13,522			13,559			12,340			14,912			54,333
Selling and marketing	12,333			17,976			11,376			24,727			66,412
General and administrative	11,042			10,022			11,326			13,308			45,698
Other income (expense), net	220			60			197			(42		)	435
Income (loss) before income taxes	$	897		$	10,696		$	22,931		$	(8,917	)	$	25,607

iRobot Corporation
Segment Information
(in thousands)
(unaudited)
	Fiscal Year Ended
	December 29, 2012			December 31, 2011			January 1, 2011			January 2, 2010
Revenue:
Home Robots	$	356,805		$	278,551		$	229,348		$	165,860
Defense & Security Robots	70,948			175,119			159,889			122,746
Other	8,491			11,830			11,715			10,011
Total	436,244			465,500			400,952			298,617
Cost of Revenue:
Home Robots	174,756			151,299			135,875			111,513
Defense & Security Robots	38,388			76,620			72,746			57,485
Other	31,485			35,571			33,524			29,860
Total	244,629			263,490			242,145			198,858
Gross Margin
Home Robots	182,049			127,252			93,473			54,347
Defense & Security Robots	32,560			98,499			87,143			65,261
Other	(22,994		)	(23,741		)	(21,809		)	(19,849		)
Total	191,615			202,010			158,807			99,759
Research and development	54,333			54,457			45,941			31,186
Selling and marketing	66,412			50,477			42,778			33,026
General and administrative	45,698			43,753			36,618			30,110
Other income (expense), net	435			218			504			(81		)
Income before income taxes	$	25,607		$	53,541		$	33,974		$	5,356