iRobot Corporation Message Board
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Anyone know what is going on ? I see no news...
Sentiment: Buy
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There are slides available ? I only a big document (transcript) that I have yet to read.
Sentiment: Buy
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{missing part from my previous message}
this time.
Josephine Millward - Benchmark Company
Okay. That's good because I don't think the army knows yet.
Colin Angle - Chairman & CEO
As you soon as you find out you can let us know. -
From the CC, i don't understand it's "dead" just uncertain... Here is the part discussing it:
Josephine Millward - Benchmark Company
Sounds good. Can you give us an update on the DoD thinking and strategy for the SUGV? As you know the army didn't request any additional funding in the President's '14 budget request for unmanned ground vehicle. So what happens to the money from fiscal year '12 and '13 for SUGV, and do you think this program could be cancelled?
Colin Angle - Chairman & CEO
So where we're right now is that there have been multiple unmanned ground vehicle platforms designed for similar missions. And the army has recognized this and requested a thorough review of requirements for unmanned systems that are SUGV class. So the review is ongoing and most likely a new competition around a new set of requirements will take place in the next few years, until the new requirement is approved and funded we expect the government to continue to support and use the field of SUGV systems they currently have but we are not currently modeling or expecting the SUGV dollars to continue to flow for development of that program. So I think that we didn't believe those numbers in the President's budget would materialize, we continue to believe that.
Josephine Millward - Benchmark Company
Do you think -- so should we think about Defense stabilizing next year or could it go down further?
Colin Angle - Chairman & CEO
You're getting ahead of the curve. I think that we believe strongly in the long-term potential for D&S, but are not commenting on our expectations for next year at tSentiment: Buy
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Last quarter the government disclosed a $14.4 million order for more than 600 FirstLook robots. This order was anticipated and included in our 2013 expectations. In addition we received a $7 million international order at the beginning of the quarter which we discussed on the last call. We now have more than 80% of the roughly $50 million in 2013 expectations in either booked orders or funded backlog and are highly confident in achieving the full year number which will be down from last year.
Also important to note is that we expect non-DoD revenue to comprise more than 40% of 2013 D&S revenue compared with 16% of 2012 revenue.
We began shipping the RP-VITA to InTouch in Q1 2013. To date we have shipped roughly 2 dozen robots on which ITH has integrated their proprietary technology for telemedicine to facilitate its use in remote diagnosis and treatment. Half of these robots have been shipped by ITH to both new and prior users of InTouch’s products.
Shortly after the two explosions near the Boston Marathon finish line, we contacted the Massachusetts State Police to offer assistance and robots in addition to the ones they owned. On Friday, during the intensive manhunt, our robots were once again front and center, keeping law enforcement officials out of harm’s way. The Mass State Police expressed their gratitude for iRobot’s timely responsiveness.
We expect year-over-year double digit revenue growth to continue throughout 2013 driven by both product mix and unit volume. Based on current indications from our retailers and distributors, we anticipate revenue to be relatively level from Q2 through Q4.
Q1 gross margin was 43.8% compared with 38.4% last year, and opex was 35% of revenue compared with 38% last year.
At the end of Q1, we had cash, including investments, totaling $138 million compared with $182 million last year and operating cash flow was roughly breakeven.Sentiment: Buy
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good luck with that
Sentiment: Buy