iRobot Appoints Alison Dean Executive Vice President and Chief Financial Officer

  iRobot Appoints Alison Dean Executive Vice President and Chief Financial
  Officer

              Company Increases First Quarter 2013 Expectations

Business Wire

BEDFORD, Mass. -- March 11, 2013

iRobot Corp. (NASDAQ: IRBT), a leader in delivering robotic technology-based
solutions, today announced the appointment of Alison Dean as executive vice
president and chief financial officer. She will begin her new position
effective April 5, 2013 and will report to Colin Angle, chief executive
officer.

iRobot Corp. (NASDAQ: IRBT), today announced the appointment of Alison Dean as
executive vice presid ...

iRobot Corp. (NASDAQ: IRBT), today announced the appointment of Alison Dean as
executive vice president and chief financial officer. (Photo: Business Wire)

Dean, who has 25 years of experience in finance, joined iRobot in 2005, prior
to the company’s public offering, to prepare the company for the public
market. While at iRobot, she has been responsible for investor relations,
company-wide financial planning, accounting, and SEC reporting. Dean
previously held the position of principal accounting officer and has been
responsible for evaluating the company’s investment decisions, including
acquisition targets. During her seven year tenure at iRobot, revenue has grown
from $142 million to $436 million, while achieving mid-teens EBITDA margins.
Prior to joining iRobot, she held several senior positions at 3Com
Corporation, most recently as corporate controller. Dean holds a B.A. in
Business Economics from Brown University and an M.B.A. from Boston University.

Dean succeeds John Leahy, who is stepping down after four years to join a
late-stage private company.

“I am delighted that Alison Dean will become iRobot’s chief financial officer.
Her extensive experience in finance and operations, as well as her deep
understanding of iRobot’s market strategy, operating model and financial
systems enable her to easily transition and immediately contribute in her new
role on our experienced and successful leadership team,” said Colin Angle,
iRobot chief executive officer. “We wish John Leahy well and thank him for his
dedication, guidance and outstanding personal contribution to improving the
operational and financial infrastructure of the company over the past four
years.”

“Based on strong quarterly results to date in both our Home Robot and Defense
& Security business units, iRobot is increasing our expectations for the first
quarter of fiscal 2013. We now expect revenue of $102 to $104 million,
earnings per share of $0.16 to $0.20 and Adjusted EBITDA of $10 to $12
million. Strong sell through both domestically and overseas is driving sales
of our home robots and our strong Q1 backlog in Defense & Security gives us
confidence in achieving these expectations,”Colin added.

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 defense & security
robots protect those in harm’s way. iRobot’s consumer and military robots
feature iRobot Aware® 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 Corp.’s expectations regarding future
financial performance, anticipated revenue, earnings per share and Adjusted
EBITDA for the first quarter ending March 30, 2013. 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 ability to operate in an emerging market, the financial strength
of our customers and retailers, general economic conditions, our dependence on
the U.S. federal government and government contracts, the timing of government
contracts and orders, market acceptance of our products, changes in government
policies or spending priorities, and competition. 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.

This press release includes Adjusted EBITDA, which is a non-GAAP financial
measure as defined by SEC Regulation G. We define Adjusted EBITDA as earnings
before interest, taxes, depreciation and amortization, merger and acquisition
expenses, net intellectual property litigation expenses, restructuring
expenses, and non-cash stock compensation.

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Contact:

iRobot Corp.
Elise Caffrey, 781-430-3003
Investor Relations
ecaffrey@irobot.com
or
Matthew Lloyd, 781-430-3720
Media Relations
mlloyd@irobot.com
 
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