iRobot Awarded $30 Million Army Contract, Initial Orders Valued At $3 Million
As previously announced by the Army, iRobot Corp. (NASDAQ: IRBT), a leader in delivering robotic technology-based solutions, has been awarded a $30 million indefinite delivery/indefinite quantity (IDIQ) contract by the U.S. Army's Robotic Systems Joint Program Office (RSJPO). The four-year contract, which replaces an expiring IDIQ, allows for the delivery of iRobot PackBot FasTac robotic systems and associated spares.
An initial $3 million order under the contract for spares has also been placed. Deliveries under this order will be completed by the end of Q4 2013.
“iRobot is proud to provide robotic capabilities that help our warfighters accomplish their mission,” said Frank Wilson, senior vice president and general manager of iRobot's Defense & Security business unit. “The Army recognizes the value of the PackBot FasTac robotic system on the battlefield, and we look forward to continuing our work with RSJPO to ensure the Army is well equipped to maintain its fleet of PackBot FasTac robots in the years ahead.”
The iRobot PackBot allows military and public safety personnel to investigate dangerous objects and environments from a safe distance. The robot is used in a wide variety of operations, including neutralizing roadside bombs and other improvised explosive devices, screening vehicles, and searching buildings, bunkers, caves and tunnels.
iRobot has delivered more than 5,000 robots to military and civil defense forces worldwide.
About iRobot Corp. iRobot designs and builds robots that make a difference. The company's home robots help people find smarter ways to clean, its defense & security robots protect those in harm's way, and its remote presence robots enable virtual presence from anywhere in the world. iRobot's 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 Corporation's expectations concerning future orders and deliveries. 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.
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