iRobot Q1 Net Surges, Guidance Raised

By Eric Volkman – Apr 23, 2013 at 10:16PM

NASDAQ: IRBT

iRobot

Market Cap

$196M

Today's Change

(2.23%) $0.15

Current Price

$6.89

Price as of April 23, 2024, 4:00 p.m. ET

The company's fiscal 2013 EPS projection gets a strong upwards revision.

iRobot (IRBT 2.23%) results for the company's Q1 have been made public. For the quarter, revenue was $106 million, a nearly 9% improvement over the $98 million in the same period the previous year. Net income powered ahead, meanwhile, growing more than twelve-fold to $8.4 million ($0.29 per diluted share) from the roughly $653,000 ($0.02 per diluted share) of Q1 2012.

Analysts had expected revenue of $113 million and EPS of $0.11.

iRobot also proffered forward guidance for the current quarter and fiscal year. For the company's current Q2, revenue is expected to total $128 million-$133 million, with EPS of $0.15-$0.20. Those figures for the entirety of fiscal 2013 are anticipated to come in at $485 million-$495 million and $0.80-$1.00, respectively. The full-year numbers have been increased from the company's previous projections of $480 million-$490 million for revenue and per-share earnings of $0.57-$0.72.

Fool contributor Eric Volkman has no position in iRobot. The Motley Fool recommends iRobot . 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.