iRobot 2011 Annual Report Download - page 50

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Form 10-K
PART I
ITEM 1. BUSINESS
This Annual Report on Form 10-K contains forward-looking statements. All statements other than
statements of historical facts contained in this Annual Report on Form 10-K, including statements regarding our
future results of operations and financial position, business strategy, plans and objectives of management for
future operations, and plans for product development and manufacturing are forward-looking statements. These
statements involve known and unknown risks, uncertainties and other factors that may cause our actual results,
performance or achievements to be materially different from any future results, performance or achievements
expressed or implied by the forward-looking statements. We discuss certain of these risks in greater detail in the
“Risk Factors” section and elsewhere in this Annual Report on Form 10-K. Also, these forward-looking
statements speak only as of the date of this Annual Report on Form 10-K, and we have no plans to update our
forward-looking statements to reflect events or circumstances occurring after the date of this Annual Report. We
caution readers not to place undue reliance upon any such forward-looking statements.
iRobot, Roomba, Scooba, iRobot Dirt Dog, PackBot, Warrior, FirstLook, Looj, Verro, Create,Virtual Wall,
Home Base, and Aware are trademarks of iRobot Corporation.
Overview
iRobot Corporation (“iRobot” or the “Company” or “we”) designs and builds robots that make a difference.
For over 20 years, we have developed proprietary technology incorporating advanced concepts in navigation,
mobility, manipulation and artificial intelligence to build industry-leading robots. Our home care robots perform
time-consuming domestic chores while our government and industrial robots perform tasks such as battlefield
reconnaissance and bomb disposal, multi-purpose tasks for local police and first responders, and long-endurance
oceanic missions. We sell our robots to consumers through a variety of distribution channels, including chain
stores and other national retailers, and through our on-line store, and to the U.S. military and other government
agencies worldwide. We maintain certifications for AS9100 and Capability Maturity Model Integration, or
CMMI, which enable us to service our military products and services.
Since our founding, we have accumulated expertise in all the disciplines necessary to design and build
durable, high-performance and cost-effective robots through the close integration of software, electronics and
hardware. Our core technologies serve as reusable building blocks that we adapt and expand to develop next
generation and new products, reducing the time, cost and risk of product development. Our significant expertise
in robot design and engineering, combined with our management team’s experience in military and consumer
markets, positions us to capitalize on the growth we expect in the market for robot-based products. We believe
that the sophisticated technologies in our existing consumer and military applications are adaptable to a broad
array of markets such as law enforcement, homeland security, commercial cleaning, elder care, energy services,
home automation, healthcare, landscaping, agriculture, construction and other vertical markets.
Over the past nine years, we sold more than 7 million of our home care robots. We also sold during that time
more than 4,500 of our tactical military robots, most of which have been sold to the U.S. military and deployed
on missions in Afghanistan and Iraq.
Strategy
Our goal is to design and market innovative robots that make a difference and are adaptable for use in a
broad range of applications. We intend to increase the penetration of our products in existing markets, expand
existing products into new markets, and develop and launch new products into current and adjacent markets. Our
strategy is to maintain a leadership position by delivering robotic technology-based remote presence and
automated home maintenance solutions that delight our customers and anticipate their needs, while extending our
technical leadership in the areas of robot autonomy, manipulation and platforms. Remote presence is the core of
our military robots which save lives by keeping warfighters at safe standoff distances from hazards while they
perform dangerous, difficult and persistent missions. With increasing levels of autonomy, continued mobility
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