BURLINGTON, Mass., Oct. 3, 2006 – iRobot Corp. (NASDAQ: IRBT) today announced it has received $6.9 million in new orders from the Naval Sea Systems Command (NAVSEA) as well as the Naval Air Systems Command (NAVAIR, Orlando, Fla.) on behalf of the Robotic Systems Joint Project Office to deliver iRobot® PackBot® robots, spare parts and services to both commands by the end of the first quarter 2007.
NAVSEA has ordered additional iRobot PackBot robots and spare parts valued at $3 million. This delivery order, awarded under the terms of NAVSEA’s Indefinite-Delivery/Indefinite-Quantity (IDIQ) contract with iRobot for robots, spare parts, training and repair services, brings the total orders to date to approximately $50 million. Under the terms of the previously existing IDIQ contract, the military could order up to the full $264 million value in robots, spare parts, training and repair services.
NAVAIR, on behalf of the Robotic Systems Joint Project Office, has also ordered additional PackBot robots and spare parts, valued at $3.9 million, under the terms of NAVAIR’s IDIQ contract with iRobot for robots, spare parts, training and repair services. This order brings total orders to date to approximately $9 million. Under the terms of the existing IDIQ contract, the military could order up to the full $64.3 million value in robots, spare parts, training and repair services.
“PackBot is gaining increasingly wider acceptance in the military, and we are proud of the important role it plays in saving the lives of U.S. service men and women,” said Vice Admiral Joe Dyer (U.S. Navy, Ret.), president of iRobot Government and Industrial Robots. “iRobot is committed to quickly delivering on these orders to meet the growing demand for robots from soldiers in combat situations.”
To date, iRobot has delivered more than 700 PackBot robots to a broad range of military and civilian customers worldwide. The robots have performed tens of thousands of missions in Iraq and Afghanistan and are credited with saving soldiers’ lives.
About iRobot Corp.
iRobot is a provider of robots that perform dull, dirty or dangerous missions in a better way. The company's proprietary technology, iRobot AWARE Robot Intelligence Systems, incorporates advanced concepts in navigation, mobility, manipulation and artificial intelligence. This proprietary system enables iRobot to build behavior-based robots, including its family of consumer and military robots. For additional 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 estimates of future revenues, its business outlook and business momentum. 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. In particular, the risks and uncertainties include, among other things: our dependence on the U.S. federal government and government contracts; and changes in government policies or spending priorities. 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.
Contact: | |
Elise Caffrey Investor Relations iRobot Corp. (781) 418-3003 ecaffrey@irobot.com |
Elena Frigeri A&R Edelman for iRobot Corp. (212) 642-7799 Elena.Frigeri@ar-edelman.com |