80 layoffs occur as a result of government indecision regarding defense robot purchases
By RBR Staff
October 26, 2012
“Our defense and security business had its best performance of the year, delivering revenue of $30 million. U.S. government funding and program delays, however, continued to negatively impact our near-term expectations for this business unit. With home robots accounting for more than 80% of the company’s total revenue, iRobot’s financial performance will be driven by growth in the consumer business and less impacted by the ups and downs in the defense business.”
To continue reading, join today.