iRobot CEO Discusses Q4 2010 Results - Earnings Call Transcript

iRobot (NASDAQ:IRBT) Q4 2010 Earnings Call February 10, 0000 6:30 AM ET

Executives

Elise Caffrey – Head of Investor Relations
Colin M. Angle – CEO, Chairman
John Leahy – CFO, Executive Vice President

Analysts

James Ricchiuti- Needham & Company
Mark Strauss -JP Morgan
Alex Hamilton - EarlyBirdCapital
Josephine Millward - The Benchmark Company
Jim McIlree - Merriman
Brian Ruttenbur -Morgan Keegan
Adam Flek-Morningstar

Operator

Good day everyone, and welcome to the iRobot fourth quarter and full year 2010 financial results conference call. This call is being recorded. At this time, for opening remarks and introductions, I would like to turn the call over to Elise Caffrey of iRobot Investor Relations. Please go ahead.

Elise Caffrey

Thank you and good morning. Before I introduce the iRobot management team, I'd like to note that statements made on today’s call that are not based on historical information are forward looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and involve a number of factors that could cause actual results to differ materially from those expressed or implied by such statements.

Additional information on these risks and uncertainties can be found in our public filings with the Securities and Exchange Commission. iRobot undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or circumstances or otherwise.

During this conference call we will also disclose various non-GAAP financial measures, including adjusted EBITDA, which we define as earnings before interest, taxes, depreciation, amortization, merger and acquisition expenses, and non-cash stock compensation expense. A detailed reconciliations of GAAP and non-GAAP metrics can be found in the financial tables at the end of the Q4 and full year 2010 earnings press release issued last evening, which is available on our