Business Services Industry
iRobot Receives Order From the U.S. Army Totaling $13.3 Million
Business Wire, Sept 25, 2008
Company Capable of Delivering 100 PackBot Robots per Month
BEDFORD, Mass. -- iRobot Corp. (Nasdaq: IRBT) today announced it received an additional order under its current xBot contract with the U.S. Army Program Executive Office for Simulation, Training, and Instrumentation (PEO STRI) totaling $13.3 million. This new investment marks the sixth order under the xBot contract, bringing the total contract value to approximately $63.6 million.
Under this contract, iRobot will deliver 165 additional PackBot 510 with FasTac Kit robots to the Army. Developed to investigate suspicious objects, identify roadside bombs and other IEDs, as well as unexploded ordnance, the PackBot 510 with FasTac Kit easily adapts to the ever-changing requirements of bomb identification and other life-threatening missions.
"The U.S. Army continues to show its support for our PackBot line of robots and the immediate need for unmanned ground vehicles to assist soldiers in the fight against terrorism," said Joe Dyer, president of iRobot Government and Industrial Robots. "The PackBot 510 with FasTac Kit has proven itself on the battlefield, allowing troops to complete critical missions successfully while keeping them at safe distances, and will continue to demonstrate its dependability."
iRobot also announced that it has demonstrated the ability to deliver 100 PackBot robots per month to the Army. As part of this most recent order under the xBot contract, all 165 PackBot 510 with FasTac Kit robots will be delivered before April 30, 2009.
"We are truly excited to have reached a capability of delivering 100 PackBots per month to our Armed Forces," continued Dyer. "With this output, iRobot can get even more robots into the hands of our troops, helping to keep them safe on the battlefield."
iRobot has delivered more than 1,800 PackBot robots that make a difference everyday by conducting dangerous missions that keep warfighters out of harm's way.
About iRobot Corp.
iRobot is a provider of robots that perform dull, dirty or dangerous missions in a better way. The company's proprietary technology, iRobot AWARE[TM] Robot Intelligence Systems, incorporates advanced concepts in navigation, mobility, manipulation and artificial intelligence. This proprietary system enables iRobot to build behavior-based robots, including its family of consumer and military robots. For additional information about iRobot, please visit www.irobot.com.
For iRobot Investors
Certain statements made in this press release that are not based on historical information are forward-looking statements which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. This press release contains express or implied forward-looking statements relating to, among other things, iRobot Corp.'s expectations concerning estimates of future revenues. These statements are neither promises nor guarantees, but are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things our dependence on the U.S. federal government and government contracts, efforts to expand product offerings may not succeed, changes in the policies and spending priorities of governments and government agencies, the complexities of our products, and reliance on limited source suppliers and third-party manufacturers. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. iRobot Corp. undertakes no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise. For additional disclosure regarding these and other risks faced by iRobot Corp., see the disclosure contained in our public filings with the Securities and Exchange Commission including, without limitation, our most recent Annual Report of Form 10-K.
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