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What: Shares of iRobot (NASDAQ:IRBT) were doing the robot today, climbing as much as 11% today after the company raised its first-quarter forecast.

So what: The robot-maker raised its EPS guidance from flat to $0.07, to $0.16 to $0.20, and said it now expects revenue of $102 to $104 million, up slightly from its previous range. Analyst consensus had stood at an EPS of just $0.02 on sales of $100.8 million. iRobot recently received a $14 million order for FirstLook robots, which are used in military operations, which likely helped push the higher forecast. Last night, the company also announced the resignation of CFO John Leahy, who will be replaced by Alison Dean, who has held a number of different positions with iRobot since joining the company in 2005.

Now what: iRobot also won an upgrade on the news, as Needham raised its price target to $28. Shares of the manufacturer cooled off over the course of the day, trading with a gain near 5% toward the end of the session. Shares are still dearly priced, but if the company can string a few more quarters like this one, it will have no problem justifying its high P/E.

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Fool contributor Jeremy Bowman has no position in any stocks mentioned. The Motley Fool recommends iRobot. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.