Scalper1 News
Home-robot builder iRobot delivered first-quarter results that beat expectations and reaffirmed its full-year guidance, but the company’s stock fell hard on the news. As an old-time TV robot might say, “That does not compute.” Bedford, Mass.-based iRobot (IRBT), however, gave June-quarter guidance that fell short of analyst expectations. The company late Tuesday said that it earned 18 cents a share on sales of $114 million in the March quarter. Analysts polled by Thomson Reuters expected 16 cents and $112 million. On a year-over-year basis, iRobot’s sales were up nearly 8%, while EPS dipped 14% excluding a one-time tax credit a year earlier. Based on those Q1 results and its outlook, iRobot reaffirmed its full-year financial expectations of $560 million to $570 million in sales, earnings per share of $1 to $1.15 and adjusted earnings of $74 million to $78 million. IRobot stock on Wednesday fell 10.4% to 35.52 on the… Scalper1 News
Scalper1 News