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iRobot Q1 Net Surges, Guidance Raised

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

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

iRobot (IRBT 2.20%) 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.

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