IRobot: 2Q Earnings Snapshot
BEDFORD, Mass. (AP) _ IRobot Corp. (IRBT) on Tuesday reported second-quarter profit of $10.5 million.
On a per-share basis, the Bedford, Massachusetts-based company said it had net income of 37 cents.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The robotics technology company posted revenue of $226.3 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $221.2 million.
IRobot expects full-year earnings to be $2.30 to $2.80 per share, with revenue in the range of $1.06 billion to $1.08 billion.
IRobot shares have declined nearly 7 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $71.43, a decrease of 21 percent in the last 12 months.