Date: Jan 04, 2011 Source: Company Data (
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iRobot Announces $13.9 Million Contract for Small Unmanned Ground Vehicles
BEDFORD, Mass., Jan 04, 2011 (BUSINESS WIRE) --
iRobot Corp. (NASDAQ: IRBT), a leader in delivering robotic technology-based solutions, today announced that the Brigade Combat Team Modernization (BCTM) Increment 1 production purchase contract has been finalized for a firm fixed price value of $13.9 million.
The contract calls for iRobot to deliver 45 Small Unmanned Ground Vehicles (SUGVs) as part of the Army's low-rate initial production contract for the first brigade set of BC™ Increment 1 capabilities. To date, 30 SUGVs have been delivered, with the remaining 15 to be delivered in January 2011. The purchase contract also includes training, field service support and spares.
"We are pleased to be delivering these SUGVs so that the Army can continue its verification testing for the BC™ program," said Robert Moses, president of iRobot's Government and Industrial Robots division. "Unmanned ground vehicles have proven their worth on the battlefield, and we believe that SUGV is an incredibly important piece of technology for the Army moving forward."
SUGV is a smaller and lighter version of the combat-proven PackBot. It is designed to give warfighters real-time awareness of critical situations and to allow them to complete missions from safe standoff distances. It is ideal for dangerous reconnaissance missions such as entering buildings, caves and tunnels.
iRobot and Boeing developed the SUGV family of vehicles under a strategic alliance that began in 2007 as part of the Army's BC™ program.
About iRobot Corp.
iRobot designs and builds robots that make a difference. The company's home robots help people find smarter ways to clean, and its government and industrial robots protect those in harm's way. iRobot's consumer and military robots feature iRobot Aware(R) robot intelligence systems, proprietary technology incorporating advanced concepts in navigation, mobility, manipulation and artificial intelligence. For more 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 Corporation's delivery of goods and services and expectations concerning management's plans, objectives and strategies. 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. 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 Corporation 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 Corporation, 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.
SOURCE: iRobot Corp.
iRobot Corp.
Investor Relations:
Elise Caffrey, 781-430-3003
ecaffrey@irobot.com
or
Media Relations:
Charlie Vaida, 781-430-3182
cvaida@irobot.com
