iRobot 2011 Annual Report Download - page 75

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December 31,
2011
January 1,
2011
January 2,
2010
December 27,
2008
December 29,
2007
(In thousands)
Consolidated Balance Sheet Data:
Cash and cash equivalents .................. $166,308 $108,383 $ 71,856 $ 40,852 $ 26,735
Short term investments .................... 17,811 13,928 4,959 — 16,550
Total assets .............................. 332,213 254,331 199,584 163,678 169,092
Total liabilities ........................... 89,255 79,424 66,390 44,002 58,865
Total stockholders’ equity .................. 242,958 174,907 133,194 119,676 110,227
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS
The information contained in this section has been derived from our consolidated financial statements and
should be read together with our consolidated financial statements and related notes included elsewhere in this
Annual Report on Form 10-K. This Annual Report on Form 10-K contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and
Exchange Act of 1934, as amended, or the Exchange Act, and are subject to the “safe harbor” created by those
sections. In particular, statements contained in this Annual Report on Form 10-K that are not historical facts,
including, but not limited to statements concerning new product sales, product development and offerings,
Roomba, Scooba, Looj and Verro products, PackBot tactical military robots, the Small Unmanned Ground
Vehicle, Seaglider, Negotiator, Ava, our home robots and government and industrial robots divisions, our
competition, our strategy, our market position, market acceptance of our products, seasonal factors, revenue
recognition, our profits, growth of our revenues, product life cycle revenue, composition of our revenues, our
cost of revenues, units shipped, average selling prices, funding of our government and industrial robot
development programs, operating expenses, selling and marketing expenses, general and administrative
expenses, research and development expenses, and compensation costs, our projected income tax rate, our credit
and letter of credit facilities, our valuations of investments, valuation and composition of our stock-based
awards, and liquidity, constitute forward-looking statements and are made under these safe harbor provisions.
Some of the forward-looking statements can be identified by the use of forward-looking terms such as “believes,”
“expects,” “may,” “will,” “should,” “could,” “seek,” “intends,” “plans,” “estimates,” “anticipates,” or other
comparable terms. Forward-looking statements involve inherent risks and uncertainties, which could cause
actual results to differ materially from those in the forward-looking statements. We urge you to consider the risks
and uncertainties discussed in greater detail under the heading “Risk Factors” in evaluating our forward-
looking statements. We have no plans to update our forward-looking statements to reflect events or
circumstances after the date of this report. We caution readers not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made.
Overview
iRobot 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 Roomba floor vacuuming robot and Scooba floor washing robot perform time-
consuming domestic chores in the home, while our Looj gutter cleaning robot and Verro pool cleaning robot
perform tasks outside the home. Our PackBot and Small Unmanned Ground Vehicle (SUGV) tactical ground
military robots perform battlefield reconnaissance and bomb disposal. Our 1KA Seaglider unmanned underwater
robot performs 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. These certifications enable us to service our military products and services.
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