iRobot 2015 Annual Report Download - page 110

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27
ITEM 6. SELECTED FINANCIAL DATA
The selected historical financial data set forth below as of January 2, 2016 and December 27, 2014 and for the years
ended January 2, 2016, December 27, 2014 and December 28, 2013 are derived from financial statements, which have been
audited by PricewaterhouseCoopers LLP, an independent registered public accounting firm. Consolidated balance sheets as of
January 2, 2016 and December 27, 2014 and the related consolidated statements of income and of cash flows for each of the
three years in the period ended January 2, 2016 and notes thereto appear elsewhere in this Annual Report on Form 10-K. The
selected historical financial data as of December 28, 2013, December 29, 2012 and December 31, 2011 and for the years ended
December 29, 2012 and December 31, 2011 are derived from our financial statements, which have been audited by
PricewaterhouseCoopers LLP and which are not included elsewhere in this Annual Report.
In fiscal year 2012, we initiated a reorganization that resulted in, among other things, the centralization of all of our
engineering and operations activities. This reorganization was completed at the beginning of fiscal year 2013. In conjunction
with this reorganization, we reviewed the financial statement classification of our costs and expenses. As a result of this review,
we decided to classify certain expenses differently than had been classified and presented in prior periods to provide a more
clear understanding of our financial performance. Because the classification of certain expenses on the income statement
changed in fiscal year 2013 as compared to prior periods, we recast the financial results of prior periods in a manner consistent
with the fiscal year 2015, 2014 and 2013 presentation for comparability purposes. The following selected consolidated
financial data reflects the reclassified amounts for the years ended December 29, 2012 and December 31, 2011.
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.
Year Ended
January 2,
2016
December 27,
2014
December 28,
2013
December 29,
2012
December 31,
2011
(In thousands, except earnings per share amounts)
Consolidated Statements of Income:
Revenue $ 616,778 $ 556,846 $ 487,401 $ 436,244 $465,500
Cost of revenue 327,852 298,791 266,247 241,896 257,847
Gross margin 288,926 258,055 221,154 194,348 207,653
Operating expenses
Research and development 76,071 69,408 63,649 57,066 60,100
Selling and marketing 97,772 86,091 71,529 66,412 50,477
General and administrative 54,465 49,439 53,358 45,698 43,753
Total operating expenses 228,308 204,938 188,536 169,176 154,330
Operating income 60,618 53,117 32,618 25,172 53,323
Net income $ 44,130 $37,803 $27,641 $ 17,297 $40,191
Net income per common share basic $ 1.49 $ 1.28 $ 0.97 $ 0.63 $1.50
Diluted $ 1.47 $1.25 $0.94 $ 0.61 $1.44
Shares used in per common share
calculations
Basic 29,550 29,485 28,495 27,577 26,712
Diluted 30,107 30,210 29,354 28,301 27,924