iRobot 2012 Annual Report Download - page 117

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iROBOT CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
67
17. Quarterly Information (Unaudited)
Fiscal Quarter Ended
April 2,
2011 July 2,
2011 October 1,
2011 December 31,
2011 March 31,
2012 June 30,
2012 September 29,
2012 December 29,
2012
(In thousands, except per share amounts)
Revenue $ 106,277
$ 108,082
$ 120,373
$ 130,768
$ 97,807
$ 111,445
$ 126,298
$ 100,694
Gross margin 43,454
42,536
50,043
56,085
34,013
49,447
54,902
41,354
Net income (loss) 7,477
8,024
14,052
10,638
653
7,375
15,207
(5,938)
Diluted earnings
(loss) per share $ 0.27
$ 0.29
$ 0.50
$ 0.38
$ 0.02
$ 0.26
$ 0.54
$ (0.21)
During the fourth quarter of 2012, the Company identified certain immaterial errors to previously-reported product
revenue and general and administrative expense and recorded out of period adjustments to correct for these items which
resulted in a $0.3 million increase in fourth quarter 2012 net loss and a $0.1 million decrease in 2012 net income. These
adjustments did not have a material impact on the reported financial position or results of operations for the year ended
December 29, 2012. Additionally, had these adjustments been recorded in the prior periods to which they relate, the impact
would not have been material to the reported financial position or results of operations for those periods.
18. Subsequent Event
In January 2013, the Company purchased an additional $2 million of preferred stock of InTouch Technologies, Inc.
("InTouch"), bringing its total investment in InTouch to $8 million. The total investment will be accounted utilizing the cost
method of accounting since this investment is not in the form of common stock or in-substance common stock. The Company
has concluded that it does not exert significant influence over InTouch since the Company does not have the right to appoint
any members of the board of directors of InTouch and the Company’s investment as a percentage of the outstanding equity of
InTouch is not significant. On a going forward basis, the Company will regularly monitor this investment to determine if facts
and circumstances have changed in a manner that would require a change in accounting methodology.
Form 10-K