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Military

iRobot Scores IED Detection Order For $16.58 Million

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By Douglas A. McIntyre Published
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iRobot (IRBT-NASDAQ) has announced it was awarded a $16.58 million order for delivery of more than 100 explosive-detection robots for use by the U.S. military in Iraq and the company expects to begin delivery of the units in the First Half of 2007.

The payload is called the ‘ICx Fido for iRobot PackBot 500′ and can detect explosives’ vapors emanating from Improvised Explosive Devices (IEDs).  To date, iRobot has delivered more than 800 PackBot robots to military and civilian customers worldwide.

IRBT has a market cap of $438 million as of Friday’s close at $18.48 and the company posted net revenues in the September-end quarter of $55 million.  Shares are down roughly 50% from its post-IPO highs.

Jon C. Ogg
January 29, 2007

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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