Robohub.org
 

iRobot buys back own shares up to $25M


by
25 February 2013



share this:

iRobot Corp. (NASDAQ: IRBT), a leader in delivering robotic technology-based solutions, today announced that its Board of Directors has authorized a stock repurchase program. Under the program, iRobot may purchase up to $25 million of its common stock beginning March 28, 2013 and ending March 27, 2014.


According to Colin Angle, chairman and chief executive officer of iRobot, the Board’s authorization of a share repurchase program reflects the companies confidence in the health and long-term outlook of the company. “With a strong balance sheet and cash flows, we believe we can take advantage of current market conditions to buy back our shares while maintaining the flexibility to make strategic investments in our future, ” Angle said.

As of February 11, 2013, iRobot had 27,872,850 shares of common stock outstanding. According to Morningstar data 64.19 percent of iRobot shares are owned by institutions, 37.04 percent of shares are owned by funds and 4.23 percent by insiders.

Credit: Google Finance, IRBT share price 2006-2013

What might be the motive for iRobot to initiate a share repurchase program. One likely motive might be to increase share value for its share owners, by reducing the total number of shares outstanding. This could also protect the company from unfriendly takeover. There have been some speculations about a strategic takeover by Google to become one of the largest suppliers of robotics in the world.

 



tags: ,


Wolfgang Heller





Related posts :



Robot Talk Episode 126 – Why are we building humanoid robots?

  20 Jun 2025
In this special live recording at Imperial College London, Claire chatted to Ben Russell, Maryam Banitalebi Dehkordi, and Petar Kormushev about humanoid robotics.

Gearing up for RoboCupJunior: Interview with Ana Patrícia Magalhães

and   18 Jun 2025
We hear from the organiser of RoboCupJunior 2025 and find out how the preparations are going for the event.

Robot Talk Episode 125 – Chatting with robots, with Gabriel Skantze

  13 Jun 2025
In the latest episode of the Robot Talk podcast, Claire chatted to Gabriel Skantze from KTH Royal Institute of Technology about having natural face-to-face conversations with robots.

Preparing for kick-off at RoboCup2025: an interview with General Chair Marco Simões

and   12 Jun 2025
We caught up with Marco to find out what exciting events are in store at this year's RoboCup.

Interview with Amar Halilovic: Explainable AI for robotics

  10 Jun 2025
Find out about Amar's research investigating the generation of explanations for robot actions.

Robot Talk Episode 124 – Robots in the performing arts, with Amy LaViers

  06 Jun 2025
In the latest episode of the Robot Talk podcast, Claire chatted to Amy LaViers from the Robotics, Automation, and Dance Lab about the creative relationship between humans and machines.

Robot Talk Episode 123 – Standardising robot programming, with Nick Thompson

  30 May 2025
In the latest episode of the Robot Talk podcast, Claire chatted to Nick Thompson from BOW about software that makes robots easier to program.

Congratulations to the #AAMAS2025 best paper, best demo, and distinguished dissertation award winners

  29 May 2025
Find out who won the awards presented at the International Conference on Autonomous Agents and Multiagent Systems last week.



 

Robohub is supported by:




Would you like to learn how to tell impactful stories about your robot or AI system?


scicomm
training the next generation of science communicators in robotics & AI


©2025.05 - Association for the Understanding of Artificial Intelligence


 












©2025.05 - Association for the Understanding of Artificial Intelligence