BEDFORD, Mass. - (Business Wire) iRobot Corp. (Nasdaq: IRBT) today announced it has been awarded a $200 million ceiling priced Indefinite-Delivery/Indefinite-Quantity (IDIQ) contract from the U.S. Army Program Executive Office for Simulation, Training, and Instrumentation (PEO STRI), on behalf of the Robotic Systems Joint Project Office in Warren, MI. Under the terms of the contract, the Army could order up to the full $200 million value in military robots, spare parts, training and repair services over the next five years.
This award replaces a previous IDIQ contract that expired in May 2008 and does not limit orders to any particular robots within iRobot’s government and industrial line. Previous IDIQ contracts awarded to the company were specifically for purchases of its iRobot PackBot robots. This contract, however, allows the Army to request additional products and services from iRobot as needed.
“The continued investment from the U.S. Army further validates our robots’ critical position in theater, allowing troops to complete missions successfully while keeping them at safe distances,” said Joe Dyer, president of iRobot Government and Industrial Robots. “As the Army continues to utilize ground tactical robots with greater frequency, new applications for these robots are being identified. We are pleased that this contract will allow iRobot to expand our product offering as the Army sees fit, as each of our robots possesses specific capabilities that allow troops to complete a wide range of missions.”
iRobot has delivered more than 1,700 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™ Robot Intelligence System, 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 management's forecast of financial performance, estimates of future revenues, estimates of the size of the markets for its products, and its business outlook and business momentum. 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; and changes in government policies or spending priorities. 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 on Form 10-K.
iRobot Corp.
Elise Caffrey
Investor Relations
(781) 430-3003
ecaffrey@irobot.com
or
Nancy Smith
Media Relations
(781) 430-3323
nsmith@irobot.com
