iRobot reported gains for its third quarter ended October 1, supported by the introduction of its Roomba 960 and expansion of its suite of connected products for the home with connectivity for Braava Jet.
Revenue for the third quarter of 2016 was $168.6 million, compared with $143.6 million for the third quarter of 2015. Net income in the third quarter of 2016 was $19.5 million, compared with $12.8 million in the third quarter of 2015.
Year-over-year consumer quarterly revenue growth of 23% was driven by APAC following the launch of Braava jet in that region. Domestic revenue grew 13% over Q3 last year, and orders-in-hand plus anticipated Q4 orders support the company’s expectation of substantial year-over-year quarterly growth in Q4, officials with iRobot said.
“Based on our Q3 results and the excellent momentum we have going into the holiday season, created by our successful marketing programs, we are increasing our full-year financial expectations for the second quarter in a row,” said Colin Angle, chairman and chief executive officer. “We now expect fiscal 2016 revenue of $650 million to $655 million and net income of between $38 million and $41 million. These expectations reflect our increased confidence that 2016 growth in the United States, of more than 25%, will drive total consumer revenue growth of approximately 15% for the full year.”
