iRobot Sees 2016 Revenue Gains

iRobot Corp. reported revenue for the full year 2016 was $660.6 million, compared with $616.8 million for the full year 2015. Net income for the fiscal year was $41.9 million, compared with $44.1 million for the full year 2015.

Revenue for the fourth quarter of 2016 was a record $212.5 million, compared with $206.4 million for the fourth quarter of 2015. Net income was $13.7 million, compared with $19.3 million for the fourth quarter of 2015.

Fourth quarter revenue was driven by strong sales in the U.S. despite “the highest numbers of competitors we’ve ever seen,” according to Colin Angle, chairman and CEO, iRobot.

“2016 was a pivotal year for iRobot as we exited non-consumer businesses to focus solely on products for the home. Q4 was a record quarter for us and it was driven from the successful investments we made leading up to and throughout 2016, as we responded well to increasingly competitive market conditions,” Angle said. “2017 will be our first full year as a consumer technology company and we plan to capitalize on the investments we have been making.”