iRobot Reports Revenue Slightly Down In Q2

iRobot Corp. has reported a slight decrease in revenue for the second quarter of 2016, ended July 2, posting sales of $148.7 million, compared with $148.8 million for the second quarter of 2015.

Net income in the second quarter of 2016 was $4.8 million, compared with $7.3 million in the second quarter of 2015.

According to the company, in the U.S., consumer revenue grew more than 25% year over year driven by demand for the high end Roomba 980 robotic vacuum, as well as for the 600 series Roomba and the Braava series of wet floor care robots.

“Our second quarter revenue was at the high end of our expectations, while earnings exceeded expectations. Based on our second quarter results, and our outlook for the rest of 2016, fueled by the U.S. momentum, we are increasing our full-year financial expectations,” said Colin Angle, chairman and chief executive officer of iRobot.

The company now expects 2016 revenue of $640 to $645 million and net income of between $36 and $40 million.

“These expectations reflect our confidence that consumer revenue will grow roughly 14% for the full year, driven by strong demand in the U.S. The success of the marketing programs we ran during the second quarter for Mother’s Day and Father’s Day resulted in sell through that was up roughly 20% in the quarter versus last year. We anticipate this momentum to continue throughout 2016,” Angle said.