Stock Quote

Minimum 15 minutes delayed. Source: LSEG

News Release

 View printer-friendly version

<< Back

iRobot Receives Orders Totaling $22 Million

Bedford, Mass., May 22, 2008 – iRobot Corp. (Nasdaq: IRBT) today announced it received orders under two separate contracts from the U.S. Army Program Executive Office for Simulation, Training, and Instrumentation (PEO STRI), that manages these contracts on behalf of the Robotic Systems Joint Project Office at Warren, Mich. and Huntsville, Ala.

PEO STRI placed a $16 million order, the third under the xBot contract, to put more than 200 robots and spare parts into the hands of infantry by October 31, 2008. Orders to date now total $27 million under this $286 million Indefinite-Delivery/Indefinite-Quantity (IDIQ) contract.

iRobot also received a delivery order totaling $6.3 million under the PEO STRI contract for a combination of iRobot® PackBot® 510 with EOD kit robots, the iRobot PackBot with ICx Fido Explosives Detection Kits, as well as spare parts and equipment. Total orders under this $64 million IDIQ contract equal $52 million, and iRobot expects to complete delivery by the end of September 30, 2008.

“Each day, the military is using our robots to perform missions that leverage the benefits of robots in theater,” said Joe Dyer, president of iRobot Government and Industrial Robots. “Continued investment by the U.S. Army further validates these advantages, especially the ability to complete critical missions at safe standoff distances.”

The robots ordered under both contracts will help warfighters address critical mission needs, including reconnaissance, building clearance, chemical sensing, investigation of suspicious objects and identification of roadside bombs, as well as other IEDs.

iRobot has delivered more than 1,500 PackBot robots, which make a difference everyday by conducting dangerous missions that keep warfighters out of harm's way.

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. 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, efforts to expand product offerings may not succeed, changes in the policies and spending priorities of governments and government agencies, the complexities of our products, and reliance on limited source suppliers and third-party manufacturers. 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 of Form 10-K.

 

Contact:
Elise Caffrey
Investor Relations
iRobot Corp.
(781) 430-3003
ecaffrey@irobot.com
Nancy Smith
Media Relations
iRobot Corp.
(781) 430-3323
nsmith@irobot.com