BEDFORD, Mass., Sept. 8, 2009 – iRobot Corp. (NASDAQ: IRBT) today announced that it has received a $6.1 million order from the U.S. Army Program Executive Office for Simulation, Training, and Instrumentation (PEO STRI).
This is the twelfth order under an existing $200 million Indefinite Delivery/Indefinite Quantity (IDIQ) contract. The current total contract value now stands at approximately $30 million. This order calls for the delivery of spare parts for iRobot’s PackBot line of tactical mobile robots. These robots are capable of identifying and neutralizing improvised explosive devices (IEDs) and can also be used in reconnaissance and route clearance missions. Spare parts include manipulator kits, battery packs, radios, antennas and hand controllers.
“The iRobot PackBot is an extremely rugged robot, one that is built to endure the harsh elements of today’s battlefield,” said Joe Dyer, president of iRobot Government and Industrial Robots. “As these robots are put through their paces, it is important to ensure that they are properly maintained. We are pleased to be providing these parts to the Army so that existing PackBots can continue working alongside our troops.” Dyer added, “With our recent contract announcements, as of the end of August, we have 90 percent visibility of our Government and Industrial Robots division’s annual revenue contemplated by our full-year financial expectations.”
iRobot has delivered more than 2,500 PackBot robots that make a difference every day by conducting dangerous missions that keep warfighters out of harm’s way.
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 government and industrial 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 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.