EX-99.2 2 ex-992xreclassificationupd.htm EXHIBIT EX-99.2 - Reclassification Update


EX-99.2

iRobot Corporation
Consolidated Statements of Income
(in thousands, except per share amounts)
(unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Fiscal Quarter Ended
 
 Fiscal Year Ended
 
 March 31,
2012
 
 June 30,
2012
 
 September 29,
2012
 
 December 29,
2012
 
 December 29,
2012
Revenue
 
 
 
 
 
 
 
 
 
  Product revenue
$
91,742

 
$
107,760

 
$
121,174

 
$
97,874

 
$
418,550

  Contract revenue
6,065

 
3,685

 
5,124

 
2,820

 
17,694

      Total
97,807

 
111,445

 
126,298

 
100,694

 
436,244

Cost of Revenue
 
 
 
 
 
 
 
 
 
  Product revenue
56,233

 
57,089

 
65,852

 
54,928

 
234,102

  Contract revenue
3,022

 
1,540

 
1,970

 
1,262

 
7,794

      Total
59,255

 
58,629

 
67,822

 
56,190

 
241,896

Gross Margin
38,552

 
52,816

 
58,476

 
44,504

 
194,348

Operating Expense
 
 
 
 
 
 
 
 
 
  Research and development
14,500

 
14,182

 
13,040

 
15,344

 
57,066

  Selling and marketing
12,333

 
17,976

 
11,376

 
24,727

 
66,412

  General and administrative
11,042

 
10,022

 
11,326

 
13,308

 
45,698

      Total
37,875

 
42,180

 
35,742

 
53,379

 
169,176

Operating income (loss)
677

 
10,636

 
22,734

 
(8,875
)
 
25,172

Other income (expense), net
220

 
60

 
197

 
(42
)
 
435

Pre-tax income (loss)
897

 
10,696

 
22,931

 
(8,917
)
 
25,607

Income tax expense (benefit)
244

 
3,321

 
7,724

 
(2,979
)
 
8,310

Net income (loss)
$
653

 
$
7,375

 
$
15,207

 
$
(5,938
)
 
$
17,297

 
 
 
 
 
 
 
 
 
 
Net income (loss) per common share:
 
 
 
 
 
 
 
 
 
   Basic
$
0.02

 
$
0.27

 
$
0.55

 
$
(0.21
)
 
$
0.63

   Diluted
$
0.02

 
$
0.26

 
$
0.54

 
$
(0.21
)
 
$
0.61

 
 
 
 
 
 
 
 
 
 
Shares used in per common share calculations:
 
 
 
 
 
 
 
 
 
   Basic
27,352

 
27,522

 
27,650

 
27,802

 
27,577

   Diluted
28,283

 
28,182

 
28,321

 
27,802

 
28,301

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock-based compensation included in above figures:
 
 
 
 
 
 
 
 
 
        Cost of product revenue
$
208

 
$
218

 
$
289

 
$
174

 
$
889

        Cost of contract revenue

 

 

 

 

        Research & development
460

 
446

 
365

 
633

 
1,904

        Selling & marketing
237

 
179

 
158

 
234

 
808

        General & administrative
1,608

 
2,059

 
1,796

 
1,919

 
7,382

            Total
$
2,513

 
$
2,902

 
$
2,608

 
$
2,960

 
$
10,983







iRobot Corporation
Consolidated Statements of Income
(in thousands, except per share amounts)
(unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Fiscal Year Ended
 
 December 29,
2012
 
 December 31,
2011
 
 January 1,
2011
 
 January 2,
2010
Revenue
 
 
 
 
 
 
 
  Product revenue
$
418,550

 
$
426,525

 
$
360,394

 
$
262,199

  Contract revenue
17,694

 
38,975

 
40,558

 
36,418

      Total
436,244

 
465,500

 
400,952

 
298,617

Cost of Revenue
 
 
 
 
 
 
 
  Product revenue
234,102

 
240,930

 
218,237

 
175,514

  Contract revenue
7,794

 
16,917

 
18,664

 
18,561

      Total
241,896

 
257,847

 
236,901

 
194,075

Gross Margin
194,348

 
207,653

 
164,051

 
104,542

Operating Expense
 
 
 
 
 
 
 
  Research and development
57,066

 
60,100

 
51,185

 
35,969

  Selling and marketing
66,412

 
50,477

 
42,778

 
33,026

  General and administrative
45,698

 
43,753

 
36,618

 
30,110

      Total
169,176

 
154,330

 
130,581

 
99,105

Operating income
25,172

 
53,323

 
33,470

 
5,437

Other income (expense), net
435

 
218

 
504

 
(81
)
Pre-tax income
25,607

 
53,541

 
33,974

 
5,356

Income tax expense
8,310

 
13,350

 
8,460

 
2,026

Net income
$
17,297

 
$
40,191

 
$
25,514

 
$
3,330

 
 
 
 
 
 
 
 
Net income per common share:
 
 
 
 
 
 
 
   Basic
$
0.63

 
$
1.50

 
$
1.00

 
$
0.13

   Diluted
$
0.61

 
$
1.44

 
$
0.96

 
$
0.13

 
 
 
 
 
 
 
 
Shares used in per common share calculations:
 
 
 
 
 
 
 
   Basic
27,577

 
26,712

 
25,394

 
24,998

   Diluted
28,301

 
27,924

 
26,468

 
25,640

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Stock-based compensation included in above figures:
 
 
 
 
 
 
 
        Cost of product revenue
$
889

 
$
1,069

 
$
875

 
$
1,046

        Cost of contract revenue

 

 

 

        Research & development
1,904

 
1,349

 
1,607

 
1,007

        Selling & marketing
808

 
724

 
1,161

 
1,410

        General & administrative
7,382

 
5,642

 
4,522

 
4,099

            Total
$
10,983

 
$
8,784

 
$
8,165

 
$
7,562







iRobot Corporation
Segment Information
(in thousands)
(unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Fiscal Quarter Ended
 
 Fiscal Year Ended
 
 March 31,
2012
 
 June 30,
2012
 
 September 29,
2012
 
 December 29,
2012
 
 December 29,
2012
Revenue:
 
 
 
 
 
 
 
 
 
  Home Robots
$
81,583

 
$
96,013

 
$
96,291

 
$
82,918

 
$
356,805

  Defense & Security Robots
14,162

 
13,223

 
27,832

 
15,731

 
70,948

  Other
2,062

 
2,209

 
2,175

 
2,045

 
8,491

      Total
97,807

 
111,445

 
126,298

 
100,694

 
436,244

 
 
 
 
 
 
 
 
 
 
Cost of Revenue:
 
 
 
 
 
 
 
 
 
  Home Robots
43,208

 
45,085

 
45,983

 
40,480

 
174,756

  Defense & Security Robots
9,901

 
7,159

 
14,802

 
8,606

 
40,468

  Other
6,146

 
6,385

 
7,037

 
7,104

 
26,672

      Total
59,255

 
58,629

 
67,822

 
56,190

 
241,896

 
 
 
 
 
 
 
 
 
 
Gross Margin
 
 
 
 
 
 
 
 
 
  Home Robots
38,375

 
50,928

 
50,308

 
42,438

 
182,049

  Defense & Security Robots
4,261

 
6,064

 
13,030

 
7,125

 
30,480

  Other
(4,084
)
 
(4,176
)
 
(4,862
)
 
(5,059
)
 
(18,181
)
      Total
38,552

 
52,816

 
58,476

 
44,504

 
194,348

 
 
 
 
 
 
 
 
 
 
Research and development
14,500

 
14,182

 
13,040

 
15,344

 
57,066

Selling and marketing
12,333

 
17,976

 
11,376

 
24,727

 
66,412

General and administrative
11,042

 
10,022

 
11,326

 
13,308

 
45,698

Other income (expense), net
220

 
60

 
197

 
(42
)
 
435

 
 
 
 
 
 
 
 
 
 
Income befrore income taxes
$
897

 
$
10,696

 
$
22,931

 
$
(8,917
)
 
$
25,607






iRobot Corporation
Segment Information
(in thousands)
(unaudited)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Fiscal Year Ended
 
 December 29,
2012
 
 December 31,
2011
 
 January 1,
2011
 
 January 2,
2010
Revenue:
 
 
 
 
 
 
 
  Home Robots
$
356,805

 
$
278,551

 
$
229,348

 
$
165,860

  Defense & Security Robots
70,948

 
175,119

 
159,889

 
122,746

  Other
8,491

 
11,830

 
11,715

 
10,011

      Total
436,244

 
465,500

 
400,952

 
298,617

 
 
 
 
 
 
 
 
Cost of Revenue:
 
 
 
 
 
 
 
  Home Robots
174,756

 
151,299

 
135,875

 
111,513

  Defense & Security Robots
40,468

 
81,797

 
77,177

 
61,236

  Other
26,672

 
24,751

 
23,849

 
21,326

      Total
241,896

 
257,847

 
236,901

 
194,075

 
 
 
 
 
 
 
 
Gross Margin
 
 
 
 
 
 
 
  Home Robots
182,049

 
127,252

 
93,473

 
54,347

  Defense & Security Robots
30,480

 
93,322

 
82,712

 
61,510

  Other
(18,181
)
 
(12,921
)
 
(12,134
)
 
(11,315
)
      Total
194,348

 
207,653

 
164,051

 
104,542

 
 
 
 
 
 
 
 
Research and development
57,066

 
60,100

 
51,185

 
35,969

Selling and marketing
66,412

 
50,477

 
42,778

 
33,026

General and administrative
45,698

 
43,753

 
36,618

 
30,110

Other income (expense), net
435

 
218

 
504

 
(81
)
 
 
 
 
 
 
 
 
Income befrore income taxes
$
25,607

 
$
53,541

 
$
33,974

 
$
5,356