Saturday, April 28, 2012
iRobot 1Q Profit Drop
iRobot reports drop in 1Q profit and disappointing earnings outlook for 2Q, full 2012. For the first quarter that ended March 31, net income was $653,000 compared with $7.5 million a year earlier. Revenue fell to $97.8 million from $106.3 million a year ago.
iRobot reported a 20 percent increase in sales for its home-products division, which includes the Roomba vacuum cleaner and Scooba floor washer. The company hopes home sales will account for three-fourths of its revenue for the full year. But the company said funding delays will continue to hurt sales for the defense business in the second quarter. In the second quarter iRobot expects revenue of $102 million to $112 million. The full year revenue is forecasted at $465 million to $485 million.