iRobot 2010 Annual Report Download - page 73

Download and view the complete annual report

Please find page 73 of the 2010 iRobot annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 132

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132

The following selected consolidated financial data should be read in conjunction with our consolidated
financial statements, the related notes and “Management’s Discussion and Analysis of Financial Condition and
Results of Operations” included elsewhere in this Annual Report on Form 10-K. The historical results are not
necessarily indicative of the results to be expected for any future period.
January 1,
2011
January 2,
2010
December 27,
2008
December 29,
2007
December 30,
2006
Year Ended
(In thousands, except earnings per share amounts)
Consolidated Statements of Operations:
Revenue
Product revenue................... $360,394 $262,199 $281,187 $227,457 $167,687
Contract revenue .................. 40,558 36,418 26,434 21,624 21,268
Total revenue ................... 400,952 298,617 307,621 249,081 188,955
Cost of revenue
Cost of product revenue............. 228,403 176,631 190,250 147,689 103,651
Cost of contract revenue ............ 27,117 30,790 23,900 18,805 15,569
Total cost of revenue ............. 255,520 207,421 214,150 166,494 119,220
Gross Margin ...................... 145,432 91,196 93,471 82,587 69,735
Operating Expenses
Research and development ........... 24,809 14,747 17,566 17,082 17,025
Selling and marketing .............. 50,535 40,902 46,866 44,894 33,969
General and administrative........... 36,618 30,110 28,840 20,919 18,703
Litigation and related expenses . ...... — — — 2,341 —
Total operating expenses .......... 111,962 85,759 93,272 85,236 69,697
Operating (Loss) Income .............. 33,470 5,437 199 (2,649) 38
Net Income ........................ $ 25,514 $ 3,330 $ 756 $ 9,060 $ 3,565
Net Income Per Common Share Basic .... $ 1.00 $ 0.13 $ 0.03 $ 0.37 $ 0.15
Diluted ......................... $ 0.96 $ 0.13 $ 0.03 $ 0.36 $ 0.14
Shares Used in Per Common Share
Calculations
Basic .......................... 25,394 24,998 24,654 24,229 23,516
Diluted ......................... 26,468 25,640 25,533 25,501 25,601
January 1,
2011
January 2,
2010
December 27,
2008
December 29,
2007
December 30,
2006
(In thousands)
Consolidated Balance Sheet Data:
Cash and cash equivalents ........... $108,383 $ 71,856 $ 40,852 $ 26,735 $ 5,583
Short term investments.............. 13,928 4,959 — 16,550 64,800
Total assets ...................... 254,331 199,584 163,678 169,092 135,308
Total liabilities .................... 79,424 66,390 44,002 58,865 40,389
Total stockholders’ equity ........... 174,907 133,194 119,676 110,227 94,919
27
Form 10-K