iRobot 2010 Annual Report Download - page 80
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Overview of Results of Operations
The following table sets forth our results of operations for the periods shown:
January 1,
2011
January 2,
2010
December 27,
2008
Fiscal Year Ended
(In thousands)
Revenue
Product revenue ................................ $360,394 $262,199 $281,187
Contract revenue ................................ 40,558 36,418 26,434
Total revenue............................... 400,952 298,617 307,621
Cost of Revenue
Cost of product revenue(1) ........................ 228,403 176,631 190,250
Cost of contract revenue(1) ........................ 27,117 30,790 23,900
Total cost of revenue ......................... 255,520 207,421 214,150
Gross margin ................................ 145,432 91,196 93,471
Operating Expenses
Research and development(1) ...................... 24,809 14,747 17,566
Selling and marketing(1) .......................... 50,535 40,902 46,866
General and administrative(1) ...................... 36,618 30,110 28,840
Total operating expenses ...................... 111,962 85,759 93,272
Operating Income ................................. 33,470 5,437 199
Other Income (Expense), Net ........................ 504 (81) 926
Income Before Income Taxes ........................ 33,974 5,356 1,125
Income Tax Expense............................... 8,460 2,026 369
Net Income ..................................... $ 25,514 $ 3,330 $ 756
(1) Stock-based compensation recorded in 2010, 2009 and 2008 breaks down by expense classification as follows.
January 1,
2011
January 2,
2010
December 27,
2008
Fiscal Year Ended
(In thousands)
Cost of product revenue ............................ $1,311 $1,127 $ 753
Cost of contract revenue ............................ 446 575 462
Research and development .......................... 725 351 359
Selling and marketing . ............................. 1,161 1,410 1,055
General and administrative .......................... 4,522 4,099 3,310
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