iRobot Earnings: Here’s Why Shares are Down Now
iRobot Corporation (NASDAQ:IRBT) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.05%.
iRobot Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 7.69% to $0.28 in the quarter versus EPS of $0.26 in the year-earlier quarter.
Revenue: Rose 17% to $130.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: iRobot Corporation reported adjusted EPS income of $0.28 per share. By that measure, the company beat the mean analyst estimate of $0.19. It beat the average revenue estimate of $128.9 million.
Quoting Management: “I am very excited to report that we had an excellent quarter following an outstanding Q1. Our Home Robot business delivered strong results both domestically and overseas, and the outlook continues to be good. We announced our second remote presence market initiative, Enterprise Telepresence, in partnership with Cisco, and our Defense & Security business performed as expected,” said Colin Angle, chairman and chief executive officer of iRobot.
“Based on our view of the rest of the year, our expectations for revenue and Adjusted EBITDA remain unchanged, but we are increasing the low end of our EPS range due to a one-time tax benefit received in Q2. We expect to deliver fiscal 2013 revenue of $485 to $495 million, EPS between $0.88 and $1.00 and Adjusted EBITDA of $55 to $61 million. Our strong second-quarter results, driven by our Home Robot business, give us confidence that we will achieve our full-year expectations.”
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