Roomba Robotic Vacuum Cleaner

iRobot Reports First-Quarter Financial Results.
Exceeds Expectations; Reaffirms 2011 Outlook

BEDFORD Bedford, town, England
Bedford, town (1991 pop. 75,632), county seat of Bedfordshire, central England, on the Ouse
River. It is an important industrial center; diesel engines, pumps, turbines, agricultural machinery,
electrical equipment, and transistors, Mass. -- iRobot This article is about the robot company. For
other uses, see I, Robot (disambiguation). The iRobot Corporation is a public corporation
(NASDAQ: IRBT), based in Burlington, Massachusetts, that designs robots for businesses,
homes, and the military. Corp. (NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of
Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : IRBT), a
leader in
delivering robotic robotic
adj.
Relating to, characteristic of, or employing robots. technology-based solutions, today announced
its
financial results for the first quarter ended April 2, 2011.
* Revenue for the first quarter of 2011 increased 12 percent to
$106.3 million, compared with $94.9 million for the same quarter one
year ago.
* Net income in the first quarter of 2011 was $7.5 million, compared
with $6.2 million in the first quarter of 2010.
* Quarterly earnings per share were $0.27, compared with $0.24 in
the first quarter last year.
* Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric
used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s
to show the potential profitability of leveraged buyouts, but has become for the first quarter of
2011 was $15.1 million,
compared with $13.7 million in the first quarter of 2010.
"Our success in the first quarter reflects the increasing
diversification Diversification
A risk management technique that mixes a wide variety of investments within a portfolio. It is
designed to minimize the impact of any one security on overall portfolio performance.
Notes:
Diversification is possibly the greatest way to reduce the risk. of products and markets in our two
divisions," said
Colin Angle Colin Angle is co-founder and chief executive officer of iRobot Corporation, maker of
the Roomba robotic vacuum cleaner. External links
iRobot Corporation: Management Team Colin Angle 1: 14 Failed Business Models, chairman and
chief executive officer of iRobot.
"Strong demand in both domestic and international markets drove Q1
home robot revenue growth. We recently received several significant
government contracts in our Government and Industrial Robots division
indicating the underlying demand for both PackBot PackBot is a series of robots by iRobot.
PackBot EOD (Explosive ordnance disposal) can be controlled by radio or wired control to handle
situations involving potential explosives, thereby reducing the risk of personal injury. and SUGV
SUGV Small Unmanned Ground Vehicle robots. We
continue to anticipate stronger revenue and earnings growth in the
second half of the year due to the timing of government orders, and we
are reaffirming our financial expectations for the full year."
Business Highlights
* In March, the company shipped two PackBot and two Warrior Warrior, river, Ala.: see Black
Warrior. robots
to Japan to explore a reactor building at Japan's crippled cripple
n.
1. A person or animal that is partially disabled or unable to use a limb or limbs: cannot race a
horse that is a cripple.
2. A damaged or defective object or device.
tr.v. Fukushima Fukushima (fk`shmä), city (1990 pop. 277,528), capital of Fukushima
prefecture, N Honshu, Japan, on the Kiso plain. Daiichi nuclear power plant following the
devastating devastate
tr.v. devastated, devastating, devastates
1. To lay waste; destroy.
2. To overwhelm; confound; stun: was devastated by the rude remark. earthquake earthquake,
trembling or shaking movement of the earth's surface. Most earthquakes are minor tremors.
Larger earthquakes usually begin with slight tremors but rapidly take the form of one or more
violent shocks, and end in vibrations of gradually diminishing force and tsunami.
* Strong demand in both domestic and overseas markets drove a 29
percent year-over-year increase in first-quarter home robot revenue. In
Q1, domestic home robot revenue grew 12 percent while international home
robot revenue grew 37 percent and comprised 73 percent of total home
robot revenue.
* In April, the Government and Industrial Robots division received
two new Indefinite INDEFINITE. That which is undefined; uncertain.
INDEFINITE, NUMBER. A number which may be increased or diminished at pleasure.
2. When a corporation is composed of an indefinite number of persons, any number of them
consisting of a majority of those Delivery/Indefinite Quantity contracts, with ceilings
totaling $238 million, for delivery of PackBot and SUGV robots.
* The company introduced prototypes of the iRobot FirstLook[TM]
unmanned ground vehicle Unmanned ground vehicles or UGV are robotic platforms that are used
as an extension of human capability. This type of robot is generally capable of operating outdoors
and over a wide variety of terrain, functioning in place of humans., a small, light, throwable robot,
and launched
its new Scooba 230 floor washing robot through the company's
website.
Financial Expectations
Management provides the following expectations with respect to the
second quarter ending July July: see month. 2, 2011.
<Table><Tbody><Tr><Td colspan="1" rowspan="1">
Q2 2011:
</Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td colspan="1"
rowspan="1"></Td><Td colspan="1" rowspan="1"></Td></Tr><Tr><Td colspan="1" rowspan="1">
Revenue
rowspan="1"></Td><Td colspan="1" rowspan="1">
$102 - $106 million
</Td></Tr><Tr><Td colspan="1" rowspan="1">
Earnings Per Share

$ 0.18 - $0.22
Adjusted EBITDA
$12 - $14 million
</Td></Tr></Tbody></Table>
Management reaffirms the following expectations for the full year
ending December December: see month. 31, 2011.
Fiscal Year 2011:
rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td colspan="1"
rowspan="1"></Td></Tr><Tr><Td colspan="1" rowspan="1">
Revenue
rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1">
$450 - $465 million
Earnings Per Share
$ 0.90 - $1.00
Adjusted EBITDA
$58 - $62 million

First-Quarter Conference Call
iRobot will host a conference call tomorrow at 8:30 a.m. ET to
discuss its financial results for the first fiscal quarter and outlook
for 2011 financial performance. Pertinent PERTINENT, evidence. Those facts which tend to prove
the allegations of the party offering them, are called pertinent; those which have no such tendency
are called impertinent, 8 Toull. n. 22. By pertinent is also meant that which belongs. Willes, 319.
details include:
Date:
Wednesday Wednesday: see week., April 27, 2011
Time:
8:30 a.m. ET
Call-In Number:
630-691-2769
Passcode:
29575658
A live, audio broadcast of the conference call will also be

available at http://investor.irobot.com/phoenix.zhtml?c=193096&p=irol-irhome. An archived version
of the broadcast will be available on the
same website shortly after the conclusion of the live event. A replay of
the telephone conference call will be available through May 5, and can
be accessed by dialing 630-652-3042, passcode 29575658#.
About iRobot Corp.
iRobot designs and builds robots that make a difference. The
company's home robots help people find smarter ways to clean, and
its government and industrial robots protect those in harm's way.
iRobot's consumer and military robots feature iRobot Aware[R] robot
intelligence systems, proprietary technology incorporating advanced
concepts in navigation navigation, science and technology of finding the position and directing the
course of vessels and aircraft.Early Navigational Techniques
In ancient times, mariners navigated by the guidance of the sun and stars and landmarks along
the coast., mobility, manipulation Manipulation
Dealing in a security to create a false appearance of active trading, in order to bring in more
traders. Illegal. 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 Safe Harbor
1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.
2. A form of shark repellent implemented by a target company acquiring a business that is so
poorly regulated that the target itself is less attractive. provisions of the Private Securities
Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented
several significant substantive changes affecting certain cases brought under the federal securities
laws, including changes related to pleading, discovery, liability, class representation and awards
fees and of 1995. This press release contains express or
implied Inferred from circumstances; known indirectly.
In its legal application, the term implied is used in contrast with express, where the intention
regarding the subject matter is explicitly and directly indicated. forward-looking statements relating
to relating to relate prep → concernant
relating to relate prep → bezglich +gen, mit Bezug auf +acc, among other things,
iRobot Corp.'s expectations regarding future financial performance
and growth, anticipated revenue, Adjusted EBITDA and earnings per share
for fiscal year 2011 and the second quarter of 2011. 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. In particular, the risks and
uncertainties include, among other things: our ability to operate in an
emerging market, the financial strength of our customers and retailers,
general economic conditions, our dependence on the U.S. federal
government and government contracts, market acceptance of our products,
changes in government policies or spending priorities, and competition.
Existing and prospective investors are cautioned not to place undue
reliance on these forward-looking statements, which speak only as of the
date hereof hereof
adv.
Of this.
hereof
Adverb
Formal or law of or concerning this
Adv. 1. hereof - of or concerning this; "the twigs hereof are physic". iRobot Corp. 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 CIRCUMSTANCES, evidence. The particulars
which accompany a fact.
2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary
and improbable, recent or ancient; they may have happened near us, or afar off; they are public or
or otherwise. For
additional disclosure regarding these and other risks faced by iRobot
Corp., see the disclosure contained in our public filings with the
Securities and Exchange Commission.
This release includes Adjusted EBITDA, a non-GAAP financial measure

as defined by SEC Regulation G. We define Adjusted EBITDA as earnings
before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation
and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's
profitability. :EBITDA = Operating Revenue Operating Expenses + Other Revenue, merger and
acquisition expenses, and non-cash stock compensation. A reconciliation
between net income and Adjusted EBITDA is provided in the financial
tables at the end of this press release.
<Table><Tbody><Tr><Td colspan="1" rowspan="1"></Td><Td colspan="1"
iRobot Corporation
</Td><Td colspan="1" rowspan="1"></Td></Tr><Tr><Td colspan="1" rowspan="1">
Consolidated consolidate
v. consolidated, consolidating, consolidates
v.tr.
1. To unite into one system or whole; combine: Statement of Operations See Income statement.
(in thousands, except per share amounts)
(unaudited)
</Td><Td colspan="1" rowspan="1"></Td></Tr><Tr><Td colspan="1" rowspan="1"></Td><Td
colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td colspan="1"
rowspan="1"></Td></Tr><Tr><Td colspan="1" rowspan="1"></Td><Td colspan="1"
rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td
colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td></Tr><Tr><Td colspan="1"
For the three months ended
colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1">
April 2,
</Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1">
April 3,
2011
2010
Revenue
Product revenue
rowspan="1">
$96,711
rowspan="1">
$86,111
Contract revenue
rowspan="1">
9,566
rowspan="1">
8,819
Total
rowspan="1">
106,277
rowspan="1">
94,930
Cost of Revenue
Product revenue
rowspan="1">
56,190
rowspan="1">
55,600
Contract revenue
rowspan="1">
6,633
rowspan="1">
6,613
Total
rowspan="1">
62,823
rowspan="1">
62,213
Gross Margin
rowspan="1">
43,454
rowspan="1">
32,717
Operating Expense Operating Expense
The essential things that a company must purchase in order to maintain business.
Notes:
For example, the payment of employees wages are an operating expense.
Also known as OPEX. </Td><Td colspan="1" rowspan="1"></Td><Td colspan="1"
colspan="1" rowspan="1"></Td></Tr><Tr><Td colspan="1" rowspan="1">
Research & development
rowspan="1">
8,729
rowspan="1">
4,499
Selling & marketing
rowspan="1">
12,981
rowspan="1">
9,644
General & administrative
rowspan="1">
10,600
rowspan="1">
8,476
Total
rowspan="1">
32,310
rowspan="1">
22,619
Operating income Operating Income

The profit realized from a business' own operations.
Notes:
This would not include income from things such as investments in other firms. Also referred to as
operating profit or recurring profit. </Td><Td colspan="1" rowspan="1"></Td><Td colspan="1"
11,144
rowspan="1">
10,098
Other income (expense), net
rowspan="1">
238
rowspan="1">
29
Pre-tax income
rowspan="1">
11,382
rowspan="1">
10,127
Income tax expense
rowspan="1">
3,905
rowspan="1">
3,959
Net income
rowspan="1">
$7,477
rowspan="1">
$6,168
Net income per common share:
Basic
rowspan="1">
$0.29
rowspan="1">
$0.25
Diluted dilute
tr.v. diluted, diluting, dilutes
1. To make thinner or less concentrated by adding a liquid such as water.
2. To lessen the force, strength, purity, or brilliance of, especially by admixture. </Td><Td
rowspan="1">
$0.27
rowspan="1">
$0.24
Shares used in per common share calculations:
Basic
rowspan="1">
26,089
rowspan="1">
25,125
Diluted
rowspan="1">
27,485
rowspan="1">
26,067
rowspan="1">
Stock-based compensation included in above figures:
Cost of product revenue
rowspan="1">
$250
rowspan="1">
$332
Cost of contract revenue
rowspan="1">
95
rowspan="1">
126
Research & development

rowspan="1">
81
rowspan="1">
32
Selling & marketing
rowspan="1">
181
rowspan="1">
356
General & administrative
rowspan="1">
1,172
rowspan="1">
1,044
Total
rowspan="1">
$1,779
rowspan="1">
$1,890

rowspan="1"></Td></Tr></Tbody></Table><Table><Tbody><Tr><Td colspan="1"
iRobot Corporation
Condensed condense
v. condensed, condensing, condenses
v.tr.
1. To reduce the volume or compass of.
2. To make more concise; abridge or shorten.
3. Physics
a. Consolidated Balance Sheet consolidated balance sheet
A balance sheet in which assets and liabilities of a parent company and its controlled subsidiaries
are combined, thereby presenting balance sheet items for the parent and its subsidiaries as if they
were a single firm. </Td><Td colspan="1" rowspan="1"></Td></Tr><Tr><Td colspan="1"
rowspan="1">
(unaudited, in thousands)
April 2,
January January: see month. 1,
rowspan="1">
2011
2011
Assets
Cash and equivalents
$107,999
$108,383
Short term investments
16,306
13,928
Accounts receivable accounts receivable n. the amounts of money due or owed to a business or
professional by customers or clients. Generally, accounts receivable refers to the total amount due
and is considered in calculating the value of a business or the business' problems in paying, net
27,609
34,056
Unbilled unbilled
adj.
1. Not having been billed or charged for: unbilled medical charges.
2. Appearing, as in a movie, without being credited: an unbilled walk-on. revenues
7,934
4,012
Inventory
35,071
27,160
Deferred tax assets

12,917
12,917
Other current assets Other Current Assets
A balance sheet item that includes the value of non-cash assets due within one year.
Notes:
Examples are things like prepaid expenses and accounts receivable. </Td><Td colspan="1"
colspan="1" rowspan="1">
8,048
6,137
Total current assets Current Assets
Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory,
marketable securities, prepaid expenses, and other assets that can be converted to cash within
one year. </Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td
215,884
206,593
Property, plant and equipment, net

27,646
25,620
Deferred tax assets
8,099
8,338
Other assets other assets
Assets of relatively small value. For financial reporting purposes, firms frequently combine small
assets into a single category rather than listing each item separately. </Td><Td colspan="1"
13,673
13,780
Total assets
$265,302
$254,331
Liabilities and stockholders' equity
Accounts payable
$44,244
$38,689
Accrued accrue
v. accrued, accruing, accrues
v.intr.
1. To come to one as a gain, addition, or increment: interest accruing in my savings account.
2. expenses
14,779
15,790
Accrued compensation
8,149
17,827
Deferred revenue and customer advances
3,648
3,534
Total current liabilities Current Liabilities
Usually appearing on a company's balance sheet, it represents the amount owed for interest,
accounts payable, short-term loans, expenses incurred but unpaid, and other debts due within one
year. </Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td
70,820
75,840
Long term liabilities
3,973
3,584
Stockholders' equity
190,509
174,907
Total liabilities and stockholders' equity
$265,302
$254,331
iRobot Corporation
Consolidated Statement of Cash Flows
</Td></Tr><Tr><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td
rowspan="1">
April 2,
April 3,
rowspan="1">
2011
2010
Cash flows from operating activities:
Net income

$7,477
$6,168
</Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td></Tr><Tr><Td
Adjustments to reconcile net income to net cash provided by operating
activities:
Depreciation and amortization
2,183
1,838
Loss on disposal of property and equipment
470
45
Stock-based compensation
1,779
1,890
Benefit from deferred tax assets
Non-cash director deferred compensation
38
33
Changes in operating assets Operating Assets
Another term for working capital. and liabilities -- (use) source

Accounts receivable
6,447
9,092
Unbilled revenue
(3,922)
(1,460)
Inventory
(7,911)
2,538
Other assets
(1,929)
753
Accounts payable
5,555
(1,068)
Accrued expenses
(915)
(41)
Accrued compensation
(9,678)
(7,222)
Deferred revenue
114
(1,932)
Change in long term liabilities
389
(108)
Net cash provided by operating activities
97
10,526
rowspan="1">
Cash flows from investing activities:
Purchase of property and equipment
(4,554)
(2,039)
Purchases of investments
(5,000)
(17,580)
Sales of investments
2,500
Net cash used in investing activities
(7,054)
(19,619)
rowspan="1">
Cash flows from financing activities:
Proceeds from stock option exercises
4,584
104
Income tax withholding Withholding
Any tax that is taken directly out of an individual's wages or other income before he or she
receives the funds.
Notes:
In other words, these funds are "withheld" from your wages. payment associated with restricted
stock
vesting Vesting
The process by which employees accrue non-forfeitable rights over employer contributions that
are made to the employee's qualified retirement plan account.
Notes: </Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td
(453)
(159)
Tax benefit of excess stock based compensation deductions
2,442
149
Net cash provided by financing activities
6,573
94

rowspan="1">
Net decrease in cash and cash equivalents
(384)
(8,999)
Cash and cash equivalents, at beginning of period
108,383
71,856
Cash and cash equivalents, at end of period
$107,999
$62,857
colspan="1" rowspan="1"></Td></Tr></Tbody></Table><Table><Tbody><Tr><Td colspan="1"

iRobot Corporation
Supplemental Information
(unaudited)
colspan="1" rowspan="1"></Td></Tr><Tr><Td colspan="1" rowspan="1"></Td><Td colspan="1"
rowspan="1">
April 2,
April 3,
rowspan="1">
2011
2010
Revenue: *
Home Robots
$67,882
$52,547
rowspan="1">
Domestic
$18,058
$16,087
International
$49,824

$36,460
Government & Industrial
$38,395
$42,383
rowspan="1">
Domestic
$32,438
$37,067
International
$5,957
$5,316
rowspan="1">
Product
$28,829
$33,564
Contract
$9,566
$8,819
rowspan="1">
Product Life Cycle

$12,702
$7,980
Gross Margin Percent:
Home Robots
45.5%
38.0%
32.7%
30.0%

Total Company
40.9%
34.5%
Units shipped:
Home Robots *
349
287
114
266
Average gross selling prices for robot units:
Home Robots
$193
$189
Government & Industrial *
$141
$96

Government & Industrial Funded Product Backlog Backlog
The total value of sales orders waiting to be fulfilled.
Notes:
This figure is used mainly in the manufacturing industry. Increases or decreases in a company's
backlog indicate the future direction of sales and earnings. *
$8,302
$35,056
Days sales outstanding In accountancy, Days Sales Outstanding is a company's average
collection period. A low figure indicates that the company collects its outstanding receivables
quickly. Typically it is looked at either quarterly or yearly (90 or 365 days). </Td><Td colspan="1"
31
28

rowspan="1">
Days in inventory
55
49
rowspan="1">
Headcount head count or headcount
n.
1. The act of counting people in a particular group.
2. The number of people counted in this way.
Noun 1. </Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td
692
566
* in thousands
iRobot Corporation
Adjusted EBITDA Reconciliation to GAAP GAAP
See: Generally Accepted Accounting Principles
GAAP
See generally accepted accounting principles (GAAP). </Td><Td colspan="1"
rowspan="1">
April 2,
April 3,
rowspan="1">
2011
2010
Net income
$7,477
$6,168
rowspan="1">
Interest income, net
(210)
(170)
Income tax expense

3,905
3,959
Depreciation
2,058
1,699
Amortization
125
139
rowspan="1">
EBITDA

13,355
11,795
Stock-based compensation expense
1,779
1,890
Merger and acquisition expense
10
rowspan="1">
Adjusted EBITDA
$15,134
$13,695
colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td></Tr></Tbody></Table>
Use of Non-GAAP Financial Measures
In evaluating its business, iRobot considers and uses Adjusted
EBITDA as a supplemental measure of its operating performance. The
Company defines Adjusted EBITDA as earnings before interest, taxes,
depreciation and amortization, merger and acquisition expenses, and
non-cash stock compensation. The Company also presents Adjusted EBITDA
because it believes it is frequently used by securities analysts,
investors and other interested parties as a measure of financial
performance.
The term Adjusted EBITDA is not defined under U.S. generally
accepted accounting principles The standard accounting rules, regulations, and procedures used
by companies in maintaining their financial records.
Generally accepted accounting principles (GAAP) provide companies and accountants with a
consistent set of guidelines that cover both broad accounting, or U.S. GAAP, and is not a measure
of
operating income, operating performance or liquidity presented in
accordance Accordance is Bible Study Software for Macintosh developed by OakTree Software,
Inc.[]
As well as a standalone program, it is the base software packaged by Zondervan in their Bible
Study suites for Macintosh. with U.S. GAAP. Adjusted EBITDA has limitations as an
analytical tool, and when assessing the Company's operating
performance, investors should not consider Adjusted EBITDA in isolation,
or as a substitute for net income (loss) or other consolidated income
statement consolidated income statement
An income statement that combines the income statements of two or more organizations. As with
other consolidated statements, a consolidated income statement eliminates any funds owed to or
due from firms within the same group. data prepared in accordance with U.S. GAAP. Among
other
things, Adjusted EBITDA does not reflect the Company's actual cash
expenditures. Other companies may calculate similar measures differently
than iRobot, limiting their usefulness as comparative tools. iRobot
compensates for these limitations by relying primarily on its GAAP
results and using Adjusted EBITDA only supplementally.
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iRobot Reports First-Quarter Financial Results.

Exceeds Expectations; Reaffirms 2011 Outlook

Earnings Per Share

$58 - $62 million

A live, audio broadcast of the conference call will also be

This release includes Adjusted EBITDA, a non-GAAP financial measure

Operating income Operating Income

</Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td colspan="1"

</Td><Td colspan="1" rowspan="1"></Td></Tr><Tr><Td colspan="1" rowspan="1"></Td><Td

Deferred tax assets

Property, plant and equipment, net

</Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td colspan="1"

colspan="1" rowspan="1"></Td></Tr><Tr><Td colspan="1" rowspan="1">

colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td></Tr><Tr><Td colspan="1"

colspan="1" rowspan="1"></Td></Tr></Tbody></Table><Table><Tbody><Tr><Td colspan="1"

rowspan="1"></Td><Td colspan="1" rowspan="1">

rowspan="1"></Td><Td colspan="1" rowspan="1">

</Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td></Tr><Tr><Td

rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td

colspan="1" rowspan="1"></Td><Td colspan="1" rowspan="1"></Td><Td colspan="1"

Income tax expense

rowspan="1"></Td><Td colspan="1" rowspan="1">

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