February 18, 2010
4Q Profit Increase For Robot Firm
By Matthew L. Brown
iRobot Corp. of Bedford reported a profit of $3.3 million for 2010 compared to $756,000 a year ago even as revenues and fourth quarter income dipped.
The company, which develops robot technology, said its fourth quarter profit was $5.1 million compared to $5.4 million the year before. Revenue for the quarter was $102 million compared to $91 million.
For the year, the company reported revenue of $299 million compared to $308 million the prior year.
The company's quarterly operating income fell to $8.6 million from $10.2 million. For the year, operating income increased to $5.4 million from $199,000.
The company ended the year with $72 million in cash and equivalents compared to $41 million a year prior.
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